Ether / USD may fall to 3291 - 3334

Our pivot point stands at 3479.

Our preference

The downside prevails as long as 3479 is resistance.

Alternative scenario

Above 3479, look for 3552 and 3596.

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 3442 and 3477).

Supports and resistances

3596 **

3552 *

3479 **

3451

3422 last

3334

3291 **

3247 *

3204 **

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