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The 4K Level Still Holding Ethereum Down

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scaredycatguide
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After poking through the 4K level earlier this year, ETH has failed to regain the level. It most recently topped out in the area and is now sitting around 3,600 after retreating a bit.

Lower Top, Say it ain't so!

Image from thread

Looking at the daily chart of ethereum you can see this large range that has been carved out in 2024. You can also see that at the moment we have a lower top compared to the high made earlier in the year that followed an explosive bull move.

Though things are bullish overall in the crypto market. This lower high currently scares me a bit as it would not be the first time we saw a big run up, followed by a pullback, to then get a big bounce that tops out below that prior high....which then led to lower lows.

With ETH ETFs in play, not sure that happens this time, but as we know, anything can happen!

Posted Using InLeo Alpha