Ethereum Testing Lower Levels

3 Jun 2022

Ethereum wavered in the low $1800's before selling off back down to the mid $1700's. We dove into the vacuum zone between $1821 and $1748, and are currently hovering about the midpoint, around $1760 at the time of this writing. We appear to be establishing value here, but weakness in the OBV appears to have set in, as it has bottomed out again. Our absolute low appears to be at $1717 or $1694, so watch out for another selloff. If we break these lows, we are free to test lower levels in the $1600's, which may need to happen before we get more buying interest.