Technical analysis by JinDao_Tai about Symbol ETH: Sell recommendation (8/28/2024)

ETHUSD has been trading within the range of 2526 to 2826 since early August.Currently, as BTCUSD spiked lower, it seems to have dragged ETHUSD down with it. (also likely due to the current recovery in strength on the DXY)Similiar to the BTCUSD, there could be a brief consolidation/retracement on ETHUSD before a continuation lower to the 2300 price level.However, if the price retraces back into the previous range, ETHUSD could again be stuck in the August range.