ETH/USD may fall 149 - 220 pips
The RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (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 3938 and 4017).
Our preference: The downside prevails as long as 3936 is resistance.
Alternative scenario: Above 3936, look for 4056 and 4128.
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 3938 and 4017).
Our preference: The downside prevails as long as 3936 is resistance.
Alternative scenario: Above 3936, look for 4056 and 4128.
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