ETH in the Lower Time Frame
After the recent drawdown, ETH made a successful bounce at the 1,200 area. This is considered as the crucial resistance in the local perspective.
On the other side, we can also see that the price is forming an inversed head and shoulders which could play at any time.
The immediate target for short term sits at 1,400 area. This key level should be flipped to change the ETH sentiment into short term bullishness.
If the price fails to reclaim, we can expect a ranging market for a while.
