Ethereum (ETH/USD) technical analysis on March 29, 2018


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Ethereum ETH/USD are traded at 449 and continue to move within a bearish trend. At this point, we should expect a test of the resistance level near the 470 area. Again, we expect a rebound and the continued decline in the Ethereum rate with a target below the level of 390.

Ethereum (ETH/USD) technical analysis on March 29, 2018

In favor of falling quotations ETH/USD will test the resistance line on the indicator of relative strength index (RSI). The 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 descending channel and the continuation of the growth of ETH/USD above the level of 570. With the breakdown of the support area and the closing of quotes below 420, it is necessary to confirm the development of the bearish trend in Ethereum.

Ethereum (ETH/USD) technical analysis on March 29, 2018

Ethereum (ETH/USD) technical analysis on March 29, 2018 suggests a test of the resistance level near the 470 area, from which it is expected to rebound and continue falling to the area below the level of 390, 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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