Ether / USD may fall to 3237 - 3277

3411 is our pivot point.

Our preference

The downside prevails as long as 3411 is resistance.

Alternative scenario

Above 3411, look for 3478 and 3519.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3400 and 3421).

Supports and resistances

3519 **

3478 *

3411 **

3384

3358 last

3277

3237 **

3196 *

3156 **

Number of asterisks represents the strength of support and resistance levels.