Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The move above $1930 collected liquidity before rejection, showing seller dominance.is an asset that can sometimes shed light on what the rest of the altcoin market is poised for. Hence altcoin traders can find interesting information from the ETH price chart.
However, the strength of these bulls faced its match at the $1927 mark. This level represented a key lower high on the daily and 4-hour timeframes. A breakout past this level would have indicated that bullish sentiment was prevalent in the 1-day timeframe as well. Yet, this did not happen. Instead, ETH faced rejection at the resistance. Moreover, its H4 structure was flipped bearish once more when it sank below the $1861 level on 26 June. The RSI slipped below neutral 50 on that day, showing momentum had begun to shift bearish.
The CMF was at -0.07 at the time of writing, showing significant capital flow out of the market in recent hours. To the south, the former resistance in the $1750-$1780 region can act as support. A large imbalance could also attract Ethereum prices toward it.The 1-hour chart of the Open Interest and spot CVD from Coinalyze showed that the sentiment leaned in favor of the sellers over the past week. The Open Interest remained flat for the most part, although it did see strong gains on 25 June.
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