source avatarCryptorphic

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$ETH Update Ethereum is still struggling to regain momentum after losing strength near the top of the range. Every bounce is being sold into, and buyers haven't been able to reclaim control. From a macro perspective, the market is also facing headwinds. Uncertainty around the Fed's next move, higher bond yields, and weaker risk appetite are keeping pressure on crypto as a whole. ETH continues to trade more like a macro risk asset than on Ethereum-specific news. As long as ETH remains below the recent rejection zone, I think sellers still have the edge. If support gives way, a move toward the lower range around $1,720 becomes increasingly likely. For now, I don't see a reason to turn bullish until buyers prove they can reclaim the higher levels. DYOR, NFA #ETH

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