Ether / USD may fall to 2506 - 2544

Our pivot point is at 2672.

Our preference

The downside prevails as long as 2672 is resistance.

Alternative scenario

The upside breakout of 2672, would call for 2736 and 2775.

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 2666 and 2686).

Supports and resistances

2775 **

2736 *

2672 **

2646

2621 last

2544

2506 **

2467 *

2429 **

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