Ethereum Dumps as the FOMC Meeting Nears

19 thg 9, 2022

Ethereum tumbled over the weekend giving up several key levels of support. We have fallen quite far from recent highs just below $1800. We saw support at $1547, then $1424 for a bit. But antoher wave of selling took us further down to $1341, and we have just broken lower. We should see support at $1235. This was the upper bound of the ranging during the period where crypto was desperately trying to seek value at lows. The Kovach OBV is still bearish, suggesting we are not likely to see any bull momentum return any time soon.