Ethereum has broken major support-turned-resistance at 995 triggering a bearish exit. Our 1st resistance is at 995 (Fibonacci retracement, horizontal pullback resistance, breakout level) where a strong drop could occur from pushing price all the way down to 769. We have to be careful about 931 support level as price has bounced off that area previously and it currently serves as intermediate support.
RSI (55) is seeing pullback resistance to our ascending support-turned-resistance line.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is seeing pullback resistance to our ascending support-turned-resistance line.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results