Ether / USD may fall to 3054 - 3094

Our pivot point stands at 3243.

Our preference

The downside prevails as long as 3243 is resistance.

Alternative scenario

Above 3243, look for 3312 and 3352.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (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 3272 and 3372).

Supports and resistances

3352 **

3312 *

3243 **

3216

3184 last

3094

3054 **

3013 *

2972 **

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