Short

Trend Analysis: ETH / USD (Ethereum)

Updated

The price of Ethereum did not reach our predicted level of $560 and went down earlier to support level of $425. The price level of $425 ETH / USD is an important level, since there is a global support line, we predict a stop of price reduction at this level.
The trend for Ethereum remains descending.
Current situation:
We expect the ETH / USD price decline to stop in the $425- $400 zone, with subsequent consolidation at this level.

Key levels are used by traders to identify immediate targets, limit losses, fix profit, entry points.
Resistance levels:

1. $500;

2. $530;

3. $561 (midterm).

Support levels:

1. $420;

2. $404;

3. $360 (the April minimum of the price).

Forecast:
Reducing the price of Ethereum from $428 to the resistance zone $420- $400.

Note

Trend analysis: ETH / USD (Ethereum)
Ethereum trend remains descending.

Current situation:
The price of Ethereum makes an attempt to go upwards from the level of $420, where the resistance line of the previously broken down channel passes. We expect consolidation of the price in the range of $420- $460. The quotation of Ethereum had a chance to stop the price reduction and rise to the $485- $515 zone.

Key levels are used by traders to identify immediate targets, limit losses, fix profit, entry points.

Resistance levels:
1. $460;
2. $500;
3. $530;
4. $561 (midterm).

Support levels:
1. $420;
2. $404;
3. $360 (April minimum).

Forecast:
The growth of ETH / USD quotation to the level of $460.

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