Technical analysis by adammska about Symbol ETH: Sell recommendation (3/23/2024)

ETH is in a precarious spot going into next week: just below its 8-day and 34-day moving averages, and the channel resistance that held the price since November 2023. ETH broke out of this channel on Feb 27, but getting back inside is a bearish development for ETH.More weakness early next week could induce a quick flush to 2700, where the lower trendline will offer support.Confluence of support at 2868Hit the lower trendline on this puke. Entire correction could be over. Expecting at least a large bounce from here.