Ether / USD may fall to 3265 - 3309

Our pivot point is at 3470.

Our preference

The downside prevails as long as 3470 is resistance.

Alternative scenario

Above 3470, look for 3543 and 3587.

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 3508 and 3529). Finally, the Ether / Dollar has penetrated its lower Bollinger band (3416).

Supports and resistances

3587 **

3543 *

3470 **

3442

3399 last

3309

3265 **

3222 *

3179 **

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