Title: ETHUSD Futures (ETHUSD3 ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 1725.81 Pivot: 1631.33 Support: 1353.54
Preferred case: Looking at the H4 chart, my overall bias for ETHUSD3 is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the overlap support at 1353.54.
Alternative scenario: Price may head back up towards the resistance at 1725.81, where the previous swing high is.