#Ethereum - $ETH - 4H Update
The range movement here was a little different than in $BTC , and in fact, the movement in the internal structure was better (as I explained in the swing movements I marked).
Therefore, there are some small details that we need to look at a bit differently than I would associate with the sell-off that started with the US Global Services PMI data in $BTC. Except the PMI data, the Bybit Hack incident affected the asset was ETH, there were some confusing back and forths.
If we look at the price action; the range high liquidity wasn't swept in lower time frames before it was made a change of character (bearish CHoCH). This tells me that it may want to come lower before a new higher below the swing low that started the previous peak.
In this case, I think that the liquidity I marked below will be taken first and then below the green box liquidation (2,500 levels) will be targeted. The movement and newly formations after liquidation sweep will be important to follow.
I will be sharing updates and evaluate both what the price action says technically and whether there will be other situations affecting the market and/or $ETH related to the hack incident or whether it will be taken under control.
