Ethereum closes the last trading session in the green zone, while the downward price movement vector prevails on the higher time-frame.
The support and resistance levels:
The current support level is in the area of the 3640.11 mark.
The Penetrating Line pattern formed this level. The pattern consists of two candles: the first one has a long black body, the second one has a white body. The second candle opens with a gap down and closes above the middle of the first candle’s body.
The current resistance level is at the 4214.73 mark.
This level was formed by the Three Inside Down pattern. This pattern consists of three Japanese candles: the first candle has a short black real body, the second candle also has a black real body and is completely inside the body of the first candle, and the third candle is also black and closes below the body of the second candle.
Trading recommendations:
During the day, it is worth considering the possibilities for opening short positions. This is indicated by both: the dynamics of price movement over a longer distance and the latest formed pattern.