Ethereum (ETHUSD) Tries Reclaiming Key 2K Level

Ethereum (ETHUSD) is in the early stages of trying to halt a roughly 2 week slide (within the broader reversal since the May record high), and is once again on the verge of reclaiming the psychologically key 2k whole figure level. Significantly, until ETHUSD reclaims the 50% Fib retrace of the March 2020 to May 2021 rally, odds remain high for a retest of the May and June lows in July…

Ethereum (ETHUSD) Tries Bouncing Off 61.8% Fib Retrace of Mar20-May21 Rally

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Ethereum (ETHUSD) Breaks Weekly Chart Upchannel Support

Ethereum (ETHUSD) is looking wobbly as it breaks upchannel support (on the daily and weekly chart), dramatically increasing the likelihood of a retest of the psychologically key 2k whole figure level in the next week or so. Significantly, the bounces in the past month have capped at near the 38.2% Fib retrace of the March 2020 to May 2021 rally, forming a right shoulder­like pattern to a Head and Shoulders (seen more easily on the daily chart)…