Ether / USD may fall to 3409 - 3456

Our pivot point is at 3611.

Our preference

The downside prevails as long as 3611 is resistance.

Alternative scenario

The upside breakout of 3611, would call for 3690 and 3737.

Comment

The RSI is below 50. 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 3585 and 3583).

Supports and resistances

3737 **

3690 *

3611 **

3581

3550 last

3456

3409 **

3362 *

3316 **

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