Ether / USD may fall to 2411 - 2448

Our pivot point stands at 2603.

Our preference

The downside prevails as long as 2603 is resistance.

Alternative scenario

The upside breakout of 2603, would call for 2665 and 2703.

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 2640).

Supports and resistances

2703 **

2665 *

2603 **

2578

2546 last

2448

2411 **

2375 *

2338 **

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