During the previous trading session, the price of Ethereum decreased, moving in the main trend direction on the higher time-frame.
The support and resistance levels:
The nearest support is set at the 3677.86 mark.
This level was formed by the Three Outside Bars Up pattern. The pattern consists of three Japanese candlesticks: the first candlestick has a short black real body, the second candlestick has a long white real body and completely engulfs the first candlestick, and the third candlestick is also white, closing above the second candlestick.
The nearest resistance is set at the 3904.82 mark.
This level was formed by the Bearish Harami pattern, which is presented with two Japanese candlesticks where the second candlestick with a smaller real body is inside the body of the first one.
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.
