easyMarkets
Long

ETHUSD approaching support, potential bounce!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETHUSD is approaching our first support at 156.61 (horizontal swing low support, 100% Fibonacci extension , 50% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 168.67 (horizontal swing high resistance, 38.2% Fibonacci extension , 61.8% Fibonacci retracement ).
Stochastic is also approaching support where we might see a corresponding bounce in price.
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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