$ETH Ether Analysis
This time, Ether was affected by the CPI data, pulling up to around 3.95; it was just a bit short of reaching 4.0. This indicates that a resistance level was formed here, preventing Ether from rising further.
Currently, Ether is consolidating at a high level, and the 4-hour chart shows a weakening bullish trend. The upward momentum has dwindled, so we are bearish on Ether moving forward. Even if this wave doesn't sharply dip down, the trend will likely develop into a sideways consolidation moving downwards.
Strategy: Open short positions around 3940-3920
Target: 50-80 points
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