ETH formed today a Tower Top, a very strong bearish multi-day candle pattern. Expectations for tomorrow:
- Possible mid-day rally to 2480-2560 area, followed by a sell-off before the closure. The day should close lower than ~2460.
- If ETH rallies tomorrow (low probability), than it should close above at least 2550 in order to shift odds back to the bulls.
Remember, that the coin is under significant bearish pressure on the monthly and weekly frames.
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The call on May 16: