Very excitement.
ETHUSDT Perpetual Contract BYBIT:ETHUSDT
Eth is retesting its macro support trendline, from 2021, after passing through before NY trading opened.
It has not failed completely and looks to be being tested for support.
The rejection from this could be quick, so I’ve put a logical 6% scalp on the chart; the range exhibited has little history besides being previous resistance and passed through.
This will determine if the macro-downtrend will continue, and its applitude will likely give a clue as to how long it will last. The directional index shows that the downtrend has resumed since yesterday’s optimism.
