Unfortunately, the situation on the ETH market is rather ambiguous. We did not see active buy protection in the $1400 range during ETH last bearish impulse. The ETH price during the trading week of 13 June touched the mark of $894. After such an aggressive move, sellers did not feel any struggle. In fact, buyers could not organize even an elementary rebound to the $1400 mark. And this is the range of the former historical high. Such a lack of interest in one of the largest cryptocurrencies is a bit alarming. Source: https://www.tradingview.com/x/oeSfySdc/ If buyers fail to take control of the $1200-$1400 range during July, we see no obstacles for sellers to continue the fall with a final target of $570. A continuation of the fall to this mark without a correction will mean the collapse of the ETH cryptocurrency. How long it will take to restore the market, accumulate positions for growth and buy out all sellers is unknown. Thus, in such a scenario, you should not rush to buy ETH right away. Agree, there is no point in investing in a cryptocurrency that is just starting a global consolidation after a long fall wave. ETH Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/cX26q8t4/ Analyzing the ETH price movement on the daily timeframe, we see that buyers are trying to form a local growth trend. The local range of $1270-$1300 is the main problem of buyers, which restrains them to test the upper trend...
