Ethereum plunged deeper into the $1K's, smashing $1235, and penetrating the vacuum zone between this level and $1017. Recall that $1017 is an extremely relevant Fibonacci level drawn at day level granularity. This is the level that is the barrier between ETH and 3 digit prices. The Kovach OBV is solidly bearish, but we seem to have pivoted from the high $1K's back to $1235. This is the type of buyback we would expect near a bottom. The markets are likely to be quiet ahead of the FOMC event tomorrow, so expect some ranging at current levels, with $1017 a hard lower bound for now.
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