Ether / USD may fall to 3628 - 3683

Our pivot point is at 3891.

Our preference

The downside prevails as long as 3891 is resistance.

Alternative scenario

The upside breakout of 3891, would call for 3983 and 4038.

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 stands below its 20 and 50 period moving average (respectively at 3837 and 3848). Finally, the Ether / Dollar has penetrated its lower Bollinger band (3812).

Supports and resistances

4038 **

3983 *

3891 **

3854

3800 last

3683

3628 **

3574 *

3519 **

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