Ethereum has been very disappointing so far this cycle, but the chart on the daily is beginning to look much better than it has in recent weeks. For me a key level is the $2780 area, acceptance above puts ETH back into the midsection off this rangebound environment with a look to reach the next key level at $3200. To get there the 1D 200 EMA will be the first area of obvious resistance around the big even level of $3000.
A rejection off the $2780 I could see a move to backfill the daily wick towards the local bottom, if that were the case it would be because BTC has rolled over and lost its $91K support.
A rejection off the $2780 I could see a move to backfill the daily wick towards the local bottom, if that were the case it would be because BTC has rolled over and lost its $91K support.
Uwaga
Since the ByBit hack price has recovered back to the $2780 key level. Weekend price moves often don't contribute much to the overall big pictures as volume is lower than during the week. However, on this occasion it means a little more than usual because of the unique situation.If the recovery continues to be strong going into the weekly close and a positive weekly open this is really optimistic going forward.
Uwaga
Approaching range lows as the wick is being backfilled. Geopolitics playing a huge role in the sell-off of risk-on assets across the board. Some good setups will prevent themselves in the coming days/weeks but the market doesn't like uncertainty. 
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