Ethereum - More Downside?

ETHUSD Weekly chart

ETHUSD Daily Chart

On Mar 18, 2024, I wrote that ETHUSD may stall and undergo profit taking. See link below.

https://swingtrader188.blogspot.com/2024/03/ethereum-profit-taking-at.html

Weekly chart shows ETHUSD is still in uptrend but undergoing correction possibly due to profit taking.

Daily chart shows ETHUSD closing with a long bearish red candle after forming a bearish engulfing pattern at its declining 20ma. It looks like that the correction could be longer and deeper with the next supports are at 3059 and 2717.5.

Disclaimer: 

Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.