Ethereum — Still Lacking Power!
Although Ethereum showed some strength during the latest market pump, the token didn't clear essential levels.
On the contrary, ETH was rejected at the significant 2.8k resistance and the 4H EMA200.
Currently, ETH is struggling to stay above its sideways channel trendline. A close below this trendline on the daily chart would put us back where we came from.
Moreover, the 2.5k level would return to the play in this case.
Volume continues to be relatively low — especially in the context of a significant breakout.
Therefore, the story remains the same: As long as ETH trades below 2.8k, long trade entries don't make sense.
