Ether / USD may fall to 3530 - 3583

3772 is our pivot point.

Our preference

The downside prevails as long as 3772 is resistance.

Alternative scenario

The upside breakout of 3772, would call for 3861 and 3915.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3776 and 3795).

Supports and resistances

3915 **

3861 *

3772 **

3737

3693 last

3583

3530 **

3477 *

3424 **

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