Ether / USD may fall to 3286 - 3330

3477 is our pivot point.

Our preference

The downside prevails as long as 3477 is resistance.

Alternative scenario

Above 3477, look for 3550 and 3594.

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 is trading under both its 20 and 50 period moving average (respectively at 3453 and 3483).

Supports and resistances

3594 **

3550 *

3477 **

3449

3420 last

3330

3286 **

3243 *

3200 **

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