4-Hour Analysis
Big Picture: Yesterday remained to be Range-Bound for ETH as well. However ETH still being bearish could observe a neutral side-ways price action as long as 2080 is being protected, keeping this in view as long as 3000 level is not reclaimed Range Bottoms at 1700 is the likely outcome. On 4-H time frame a similar formation could be observed which would be called Triple Tap Price Pattern.
On Upside ETH again is getting capped at 2530-2550 level. A break above this level would open doors for test of major 1-Day resistance around 2650 which is likely to create at-least intra-day profit-taking. If not then price is likely to come into 3900-3000 level once more.
On Downside intra-day support is seen at 2380 level. However there is an interesting formation developing which is pre-mature for now but could be seen if price takes a reversal and taps the third bottom at 3100-3080 level followed by a bounce. Doing so would establish a local intra-day/daily bottom and further establish targets towards 3650-3800 before any leg lower.
