ETHUSD Futures (ETHUSD3 ), H4 Potential for Bearish Drop
Title: ETHUSD Futures (ETHUSD3 ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1725.81
Pivot: 1631.33
Support: 1353.54
Preferred case: Looking at the H4 chart, my overall bias for ETHUSD3 is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the overlap support at 1353.54.
Alternative scenario: Price may head back up towards the resistance at 1725.81, where the previous swing high is.
Fundamentals: There are no major news.
Type: Bearish Drop
Resistance: 1725.81
Pivot: 1631.33
Support: 1353.54
Preferred case: Looking at the H4 chart, my overall bias for ETHUSD3 is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the overlap support at 1353.54.
Alternative scenario: Price may head back up towards the resistance at 1725.81, where the previous swing high is.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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