Ether / USD may fall to 3053 - 3091

Our pivot point is at 3231.

Our preference

The downside prevails as long as 3231 is resistance.

Alternative scenario

Above 3231, look for 3295 and 3333.

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 below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3232 and 3274).

Supports and resistances

3333 **

3295 *

3231 **

3206

3176 last

3091

3053 **

3015 *

2977 **

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