There's been a strong support level at $568 in which the bulls have stepped in over the last seven days. If this level holds for a close, we can keep holding on to hope that a rally is possible.
Bear and bull volumes have all fallen over the last several trading periods, and we need this support zone to hold. Technical indicators haven't changed, so a breakout would probably be in the initial direction before consolidation (bearish). The good news is that all of the technical indicators are about near the bottom on the longer charts....so, we'll need a rally or longer bounce here before too long. Eventually, the bears will tire and slow down and bulls can return markets to the normalized direction to counter indicators.
Huge resistance for ETH is at $662, so I doubt if we do get a bull move, that we will see a rally above that level anytime soon.
Thanks for a good update today. Patience is my motto these days
thanks! yea it's a frustrating time. markets aren't cooperating!!