Ethereum ETH/USD are traded at 564 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 600. Again, we should expect a rebound and the continued decline in the Ethereum rate with a target below the level of 300.
Ethereum (ETH/USD) technical analysis on March 23, 2018
In favor of falling quotations ETH/USD will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders» in shallow intervals.
The reversal of the fall option will be a strong growth and a breakdown of the level of 670, which will indicate the breakdown of the resistance area and the continuation of the growth of ETH/USD above the level of 900. With the breakdown of the support area and the closing of quotes below 450, it is necessary to confirm the development of the bearish trend in Ethereum.
Ethereum (ETH/USD) technical analysis on March 23, 2018 suggests an attempt to test the resistance level near the area of 600, from which it is expected to rebound and continue falling to the area below the level of 300, an additional signal in favor of the Ethereum fall will be a test of the downward trend line on the indicator of relative strength index (RSI).
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