Ethereum's native token Ether (ETH) looks poised to extend its selloff this week as it wobbles near a key support level of $4,000.
ETH price dropped by over 5.50% on Dec. 6 to an intraday low at $3,913. In doing so, it slipped through upward sloping support that constituted an ascending channel that — more or less — appears like a bear flag, a bearish continuation setup.
ETH/USD daily price chart featuring Bear Flag setup. Source: TradingViewETH/USD weekly perpetual futures contract chart. Source: TradingViewTop ten cryptocurrencies' performance against USD and BTC in the last 30 days. Source: MessariETH/USD weekly price chart featuring Ascending Triangle setup. Source: TradingViewTop five DeFi chains based on total-volume locked. Source: Defi Llama
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