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fosis
Mar 3, 2017 9:24 AM

Resistance at the upper side of the rising channel Short

Ethereum / EuroKraken

Description

The price have hit today resistance of the uptrend channel.
In my opinion, there won't be enough bulls to break 19,5 EUR.
I expect the correction of this rise, which will probably end at 14,60 EUR (38,2% fibo level)and if BTC price fall down, than the 11,5 - 12,2 EUR level is expected (61,8%).
The RSI level is record high (overbought). Looking back we can see that, at ~95, the price begins to drop. However it's not the long trend reversal.

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target: 14.2 - 14.5
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fosis

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