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#ETH
Ethereum ($ETH) found some solid ground after a dip down to $1,603.00, putting on a nice recovery to trade around $1,637.35.
The Breakdown:
Support holding strong: The bounce off the $1,603 low shows the buyers aren't ready to let go just yet.
Resistance ahead: We recently saw a sharp rejection at $1,667.08.
Current Trend: On the 15-minute chart, we are seeing a steady series of higher lows, but the price is currently consolidating as it approaches a local resistance zone.
What's Next?
🐂 Bullish Scenario: If ETH can break and hold above the $1,645 - $1,650 area, a retest of the recent $1,667 high is highly likely.
🐻 Bearish Scenario: Failure to break past this local cluster might see us drift back down to test the $1,620 support level.
Keep an eye on the volume here for a confirmation of the next move!
What's your play? Long or short? 👇 #Crypto #Ethereum #ETH #Trading #TechnicalAnalysis