ETHEREUM -25/4/2023-

• Ethereum is suffering from the overall crypto market correction
• After hitting the upper trend line of the broad ascending channel, price reversed and broke through the middle line as well indicating increasing selling pressure
• Price found some support at the lower bound of the channel
• Bulls will try to keep the price from breaking the channel even if they are not yet able to break through the middle line again
• Bears will gather their strength at a higher price and will try to break the channel
• There is no significant support below current level until 1380, which is the bears main target
• If bulls manage to defend the channel support and the market gains some momentum, they will aim to re-test the upper bound of the channel and make a new yearly high
• A break of the channel exposes 1380 and gives the bears the upper hand, weakening the bullish trend significantly