Chart of the day

Ethereum is rejected from a strong resistance 4027. This rejection is leading to a deeper pullback after the short-term three upside waves. Look for a deeper correction to 2950.

Only in the case of a break above 14027, we can expect an immediate upside extension and a new high. A confirmed break below 3500 would lead to a test of a strong support 2950 which is a target for the short-term sell trades and this would mean that we will be in the beginning of a fourth wave pullback.

_{Look for the short trades here with the stop loss above 3750. Long trades you can take in the case of a confirmed price action break above 4027.}