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10.11 - 14:51
What are the odds of Ethereum falling back under $4K again
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After briefly dropping down to $3888, Ethereum had registered a quick recovery to $4150 at press time. In fact, ETH looked ready to re-test its immediate resistance at $4238. However, the correction should be taken more into consideration with how on-chain fundamentals acted.
There might be multiple factors in play at the moment, factors that may play a vital role in dictating the price direction for Ethereum.
Source: Trading View
At the moment, Ethereum’s price position is ready for a classic short entry after the asset failed to breach the resistance at $4238 initially. The crossover between the 20-MA and 20-EMA also seemed to highlight bearish pressure which is insightful to how the asset may react in the next few hours.
However,
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