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$ETH has been consolidating above $3,800 after yesterday's crash.
Some institutional buying is happening, but that's not enough to push Ethereum above $4,000 resistance level.
Also, the China-US trade war is escalating now, which means more volatility is about to kick in.
Keep an eye.
ETHEREUM MOVES WITH GLOBAL LIQUIDITY.
Global liquidity is Ethereum’s heartbeat.
It expands: Ethereum rallies.
It contracts: Ethereum cools.
Liquidity leads. Price follows.
Always has, always will.
$ETH 4H RSI reached its lowest level since the April crash yesterday.
This seems like a huge capitulation and often leads to a bounce back.
But I think the next week is going to be very crucial.
Any signs of a US-China trade deal resolution and Ethereum will rally.
If we talk about Ethereum.
$ETH is on the edge of last time. Support and bounce back from here will not be different.
If ETH goes again towards its resistance, i am pretty sure it will break this time, and if not, ETH will hang on another strong support near $3,400.
Anything can happen, so keep your eyes on any bullish/ bearish news.
One news and market will boom, not predicting which side.
But there are higher chances of upside because everything is in range rn, no change bitcoin is still in bullish pattern.
All eyes on Ethereum.