ETH – $4000 Holds

Ethereum seems in trouble as its price broke down from an important supporting trend line. Ethereum was declining smoothly on a lower low trend line and yesterday it broke below that, touching the $4000 mark briefly. If Ethereum fails to regain the trend above the trend line it might turn more bearish as the move in May. Fib 0.5 at $4300 is now a local resistance while $4000 acts as the major support level attracting bulls.