Ether / USD may fall to 2344 - 2379

Our pivot point stands at 2506.

Our preference

The downside prevails as long as 2506 is resistance.

Alternative scenario

Above 2506, look for 2567 and 2603.

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 2545 and 2618).

Supports and resistances

2603 **

2567 *

2506 **

2482

2452 last

2379

2344 **

2308 *

2272 **

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