ETHEREUM (ETHUSD) MARKET ANALYSIS

Good evening traders, it's an amazing weekend as we approach the Christmas festivities next week after a close of the trading week yesterday. This weekend I'm watching out for ETHUSD as price rallied into a key H1 & H4 supply zone at 3549.84 & 3467.15 which is the origin of the previous drop to the H1 & H4 low at 3101.20. Price rallied into the key supply zone on H1 & H4 at 3549.84 and formed rejections with candle closes inside supply followed by a drop in a constant push away from supply with candle closes below supply confirming the bearish sentiment.  Took sell positions at 3435.51 with SL at 3500.00. Setup taken is a rally base drop, a reversal setup and my target is at 3065.00

Price gained momentum dropping 160 pips to the 1st H1 low at 3300.00 confirming the shift in market structure to bearish. Price retraced forming a lower high before a continuation of the drop lower. Price dropped lower breaking the H1 low and forming lower lows at 3230.00 missing the major H1 & H4 demand zone at 3164.20 & 3015.00.