ETHUSD Potential Bearish Continuation | 25th Feb 2022
Etherium/U.S. Dollar FX:ETHUSD
On the H4, we can see that price is moving within the descending channel . This is signifying bearish momentum. We expect price to fall from 1st resistance at 2654.17 which is in line with our 78.60% fibonacci retracement and horizontal swing high resistance to 1st support at 2325.70 in line with 100% fibonacci projection and horizontal swing low support. Alternatively, price may break through 1st resistance and halt to 2nd resistance at 2737.86 which is in line with the swing high resistance. Our bias is further supported by how price is moving below the Ichimoko cloud.
