Ethereum Faces a Tough Challenge

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
After a sharp drop of Bitcoin , Ethereum failed to break the downtrend, signaled by the green trendline, which remains intact since the high at $838. Today ETH retraced till the 78% Fib level, at $467, where it found support. This level also matches the lower BB, acting as suport as well.

Considering that BTC falls below 6k, a further fall to the next levels at $413 and $366 is expected. $366 is supported by the yellow 377-MA and also it was the lowest point that Ethereum hit this year.

On the other hand, if BTC rebounds and regains the $6500 levels, we expect ETH to retest the trendline, aiming the 61% Fib level at $546.

A buy range would be at $450-$460, with stoploss at $430. After breaking $500, ETH will target the $520-$530 levels where POC lies.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out