ETHUSD - 1D Chart Analysis

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Like Bitcoin , Ethereum also started a slight recovery process after it had a 100$ drop between the 2nd and the 12th of September.

What we could see in the meantime is a short term bullish channel with a peak at 256$ after which the price had a 40$ correction, creating a support level at the price of 210$.

As for Bitcoin , the RSI has a neutral position while the MACD and the Stochastic are indicating that the price may continue to increase for short term.

The 2 possible scenarios are :

1. As long as the price will continue to be higher than the Pivot (225$), the first target which can be considered is 249$
2. If the price will drop below the Pivot's value (225$), the first target is 210$ ( Support Level 1)

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