Ether / USD may fall to 2978 - 3016

Our pivot point stands at 3144.

Our preference

The downside prevails as long as 3144 is resistance.

Alternative scenario

The upside breakout of 3144, would call for 3206 and 3244.

Comment

The RSI is below 50. 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 3121 and 3152).

Supports and resistances

3244 **

3206 *

3144 **

3120

3091 last

3016

2978 **

2941 *

2904 **

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