Ethereum ETH/USD are traded at 416 and continue to move within a bearish trend. At this point, we should expect a test of the resistance line test near the 450 area. Where again we should expect a rebound and the continued fall of the Ethereum rate with a target below the level of 250.
Ethereum (ETH/USD) technical analysis April 12, 2018
In favor of falling quotations ETH/USD will form a reversal model «Head and Shoulders» 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.
Ethereum (ETH/USD) technical analysis April 12, 2018 suggests a test of the resistance line test near the 450 area, from which it is expected to rebound and continue falling to the area below the level of 250, an additional signal in favor of the Ethereum fall will break the support line on the indicator of relative strength index (RSI).
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