Ether / USD may fall to 3229 - 3270

Our pivot point is at 3404.

Our preference

The downside prevails as long as 3404 is resistance.

Alternative scenario

The upside breakout of 3404, would call for 3472 and 3512.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3376 and 3406).

Supports and resistances

3512 **

3472 *

3404 **

3378

3351 last

3270

3229 **

3189 *

3149 **

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