Ether / USD may fall to 2335 - 2371

Our pivot point is at 2492.

Our preference

The downside prevails as long as 2492 is resistance.

Alternative scenario

Above 2492, look for 2553 and 2589.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2515 and 2598).

Supports and resistances

2589 **

2553 *

2492 **

2469

2443 last

2371

2335 **

2299 *

2263 **

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