quantguy

Ethereum Hits Critical Levels!!

Short
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Ethereum has plummeted past many of our support levels, finally finding support at around $1700. Recall that $1770 is a very significant level and corresponds to a Fibonacci level on the daily chart . We did see remarkable support here and ETH subsequenty was able to pivot back to the $1900's. We will see if we are able to recover the $2K's. If so, then $2025 and $2087 are the next targets. At this point, it seems that the $2K's are a barrier. The Kovach OBV registers dramatically oversold conditions, so a relief rally is due. But if the selloff continues, then the $1700's should provide support and should be considered a floor for now.

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