Ethereum ETH/USD are traded at 536 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 550. Again, we should expect a rebound and the continued decline in the Ethereum rate with a target below the level of 340.
Ethereum (ETH/USD) technical analysis on March 21, 2018
In favor of falling quotations ETH/USD will test the resistance line on the indicator of relative strength index (RSI), as well as test the upper boundary of the bearish channel. The cancellation of the fall option will be a strong growth and breakdown of the level of 600, 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 705. With the breakdown of the support area and the closing of quotations below 400, it is necessary to confirm the development of the bearish trend in Ethereum.
Ethereum (ETH/USD) technical analysis on March 21, 2018 expects a test of the resistance level near the 550 area, from which it is expected to rebound and continue falling to the area below the 340 level, an additional signal in favor of the Ethereum fall will be a downtrend test on the relative strength index (RSI).
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