Title: ETHUSD Futures ( ETHUSD ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 1706.80 Pivot: 1617.35 Support: 1335.70
Preferred case: Looking at the H4 chart, my overall bias for ETHUSD 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 1335.70.
Alternative scenario: Price may head back up towards the resistance at 1706.80, where the previous swing high is.