The findings of the following analysis are the sole opinions of the writer and should not be considered investment advicesustained its uptrend while compressing in its reversal pattern . With the $1,714 level bearing a rebound zone for the bearish pulls, the king alt could now hover near its 20/50/200 EMA before breaking into high volatility.
With the bears posing hurdles near the upper trendline of the bearish pennant-like structure, ETH is marking a slight rejection of higher prices in the $1,714 region. Furthermore, the Chaikin Money Flow peaked towards its overbought region. A likely reversal would resonate with the retracement possibilities on the chart.
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