ETH – “Bearish Grip Building Up”

4-Hour Analysis:

Big Picture:  The selling pressure prevailed and ETH went as low as 2575 before finding intra-day support. Whenever ETH trades below 3k levels the upper hand on charts remains with bears. Any upside into Intra-Day Resistance levels will be treated as selling opportunity.

On Upside, first intra-day resistance is observed at 2700 level followed by 2830. This level is likely to be a tough resistance that can act as top for the day. However holding above this would again open a re-test of 2950 followed by 3000 level.

On the Downside 28802580 is first intra-day support followed by 2540. These levels are likely to invite intra-day short-coverings. However breaching this zone is likely to trigger a fast fall toward 2380.