for Ethereum in the coming months in the event of a rejection. This lined up with the technical analysis, but it was unclear just how long the downtrend would persist.A set of Fibonacci retracement levels were plotted based on ETH’s drop from $4093 to $3056.
This swung the structure bearishly, and the OBV also fell below a significant level. At press time, the $3k resistance zone appeared strong, and the momentum was in bearish favor with an RSI reading of 40.5.
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