Ethereum has broken major support, could lead to a big drop!

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Ethereum has broken major support at 756 ( Fibonacci retracement , horizontal overlap resistance, bearish price action) and a strong drop could occur from this level towards 538 support ( Fibonacci extension , Fibonacci retracement , horizontal overlap support).

RSI (34) sees an intermediate descending resistance line provide downside pressure on Ethereum .

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This analysis is provided as general market commentary and does not constitute investment advice.
I hate when people use "bases" as resistance levels. The moving averages are the resistance levels not bases. The bases exist due to the moving average resistances. Not nearly as accurate.
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