We had a little bit of action on the Ethereum market going into the weekend, but the lack of volume has left ETHUSD in a slow decline back into the $800 zone.
There is quite a bit of selling pressure in the $880 – $1070 price range and the volume is a confirmation that the bulls are not buying at the moment.
The market is in a tight trading range with our bullish trend lines bringing support around $740 and $700.
Should support fail at $700 I am confident that we will revisit the lower price ranges where the bulls might be lurking.
As usual, it could pay to stack buy orders down the order book to catch the knife.