Ether / USD may fall to 2762 - 2796

Our pivot point stands at 2925.

Our preference

The downside prevails as long as 2925 is resistance.

Alternative scenario

Above 2925, look for 2983 and 3018.

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 3036 and 3105).

Supports and resistances

3018 **

2983 *

2925 **

2903

2871 last

2796

2762 **

2727 *

2693 **

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