ETHUSD approaching resistance, potential drop!
ETHUSD broke out of our ascending channel and is approaching our first resistance at 220 (horizontal overlap resistance, 38.2% Fibonacci retracement, breakout level) where a strong drop might occur below this level pushing price down to our major support at 188 (horizontal overlap support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit in line with our bearish pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit in line with our bearish pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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