Last Friday we were faced with a fairly harsh rectification of the Crypto market. Dozens and dozens of candles colored red at low temporalities passed before our eyes, which made the wait more agonizing. Specifically, Ethereum suffered a decline of more than $ 1,000 in less than 24 hours, that is; an approximate 26%, where it went from $ 4,650 to $ 3,380.

For this reason, I am about to give my humble technical analysis of the current situation of the ETH contrasted against the USDT. After the period of fear and sales given the weekend, the market finally managed to take a recovery course, and it was shown by showing an increase of 18% compared to its last low, in addition to this, the resistance levels could be broken previously established that hovered around the 3900, 4020 and 4250 respectively. At the time of my analysis, ETH is quoted for perpetual futures contracts, the value of $ 4333 and has made a band of consolidation and accumulation of liquidity in ranges of $ 4300-4420 for a period of 15 minutes.

In the next few hours, it would wait for the break of the upper channel with a respective pullback, and then launch itself to its next resistance that is around between 4550 and 4650 approximately. This is my contribution, I hope it can be useful to you and remember that it is not an investment recommendation and if you have to do it, do it with money that you can afford to lose.