Ether / USD may fall to 2977 - 3014

Our pivot point stands at 3153.

Our preference

The downside prevails as long as 3153 is resistance.

Alternative scenario

Above 3153, look for 3215 and 3253.

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 is trading under both its 20 and 50 period moving average (respectively at 3172 and 3239). Finally, the Ether / Dollar has penetrated its lower Bollinger band (3091).

Supports and resistances

3253 **

3215 *

3153 **

3128

3090 last

3014

2977 **

2940 *

2903 **

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