Ether / USD may fall to 2567 - 2606

Our pivot point is at 2743.

Our preference

The downside prevails as long as 2743 is resistance.

Alternative scenario

Above 2743, look for 2809 and 2847.

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 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 2721 and 2740). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 2684).

Supports and resistances

2847 **

2809 *

2743 **

2718

2683 last

2606

2567 **

2528 *

2490 **

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