Ether / USD may fall to 3381 - 3428

3594 is our pivot point.

Our preference

The downside prevails as long as 3594 is resistance.

Alternative scenario

Above 3594, look for 3672 and 3719.

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 3589 and 3641).

Supports and resistances

3719 **

3672 *

3594 **

3563

3532 last

3428

3381 **

3335 *

3288 **

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