benice_trader
Short

Ethereum The Fall of Constantinople

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Greetings from Benice team!

Ethereum is demonstrating a nice bounce! It is a little less than a month until the hard-fork called "Constantinople" arrives. A lot of things can happen during this time. However, we haven't seen a reversal signal yet. In this case, Bitcoin is a solid indicator of the market situation. If it overcomes 4350 and settles above it, then we will be able to talk about a reversal. Before it happens, we would consider all growth points as points for locking in current positions in order to re-enter below.
The support points of Ethereum are at levels 94, 86, 70 and 50. According to the Fork pattern, the first targets at the top are 129 and 148.
The current situation of the RSI index indicates that the coin is locally overbought. Wait for Ethereum to reach the first target of the decline at 94. Depending on the market behavior, make a purchasing decision.

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