DU09

ETH/USD - Bearish price action after failed break of ATH!

Short
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
ETH failed to break above $4,380 and now its being pushed down towards support... not looking particularly good for bulls in the short term.

Continuation of this pullback may lead to a retest of lower support found around $3,500. For now the support at $3,900 is holding the price. But can it hold longer?

The volume is not encouraging and would suggest we may break the first support level before a new attempt at ATH is made.

Wait for a break of support before taking a position.

Long term ETH should move beyond the current ATH . Just a matter of time. This recent rally was decent enough and a pullback was needed.

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