Ethereum ETH/USD are traded at 406 and continue to move within a bearish trend. At this point, we should expect an attempt to test the resistance level near the area of 430. Again, we should expect a rebound and the continued decline in the Ethereum rate with a target below the level of 260.
Ethereum (ETH/USD) technical analysis April 5, 2018
In favor of falling quotations ETH/USD will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the fall option will result in a strong growth and a breakdown of the level of 500, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of the growth of ETH/USD above the level of 650. With the breakdown of the support area and the closing of quotations below the level of 340, we should expect confirmation of the development of the bearish trend in Ethereum.
In favor of the fall will also break through the lower boundary of the bullish channel at small time intervals.
Ethereum (ETH/USD) technical analysis April 5, 2018 suggests an attempt to test the resistance level near the area of 430, from which it is expected to rebound and continue falling to the area below the level of 260, an additional signal in favor of the Ethereum fall will be the test of the bearish trendline on the indicator of relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
