Ether / USD may fall to 3020 - 3060

Our pivot point stands at 3221.

Our preference

The downside prevails as long as 3221 is resistance.

Alternative scenario

The upside breakout of 3221, would call for 3289 and 3329.

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 3217 and 3272). Finally, the Ether / Dollar has penetrated its lower Bollinger band (3152).

Supports and resistances

3329 **

3289 *

3221 **

3194

3144 last

3060

3020 **

2980 *

2940 **

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