Ether / USD may fall to 2173 - 2202

2355 is our pivot point.

Our preference

The downside prevails as long as 2355 is resistance.

Alternative scenario

Above 2355, look for 2405 and 2435.

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 2628 and 2789). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 2274).

Supports and resistances

2435 **

2405 *

2355 **

2336

2266 last

2202

2173 **

2144 *

2115 **

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