ETH plummeted along with the Bitcoin. At the previous 3rd H4 candle, as bearish wick was left which needs filling by the upcoming candles. The trend is bearish and we are looking to sell once the price action closes below the previous candle towards the lower side and continues going towards the support level priced at 1575. We are looking to sell at 1675 which has a pathway towards the bearish side.

There is no trendline of retracement level in essence to the over all setup.

EMA 50 is still bearish and the market has the potential to continue moving down further.

RSI is at 41. It needs to neutralize at the 50 level in order to align with the technical factors.

Ethereum continuing suit of Bitcoin

Aug 27 2023