Hello guys,
analyzing the biggest cryptos I would like to point attention out on ETHUSD because, in my opinion, price is close to an important supportive level.
This level is a static supportive area around at 250 USD and once it is broken down I think ETH could drop towards 200 USD with first target to 220 USD.
ETH during the last rebound is resulted as one of the worst cryptos, not being able to show enough strengh to push prices over 300 USD, after a big drop, started from 800 USD area reached at the starting of May. For this reason I think once the support is broken ETH could drop further.
Volume is quite high and it increases when price goes down: not a good signal.
Indicator are still "loaded", favouring a possible fall.
To sum up:
if price breaks steadily 250 USD----> 220 USD----> 200 USD
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
analyzing the biggest cryptos I would like to point attention out on ETHUSD because, in my opinion, price is close to an important supportive level.
This level is a static supportive area around at 250 USD and once it is broken down I think ETH could drop towards 200 USD with first target to 220 USD.
ETH during the last rebound is resulted as one of the worst cryptos, not being able to show enough strengh to push prices over 300 USD, after a big drop, started from 800 USD area reached at the starting of May. For this reason I think once the support is broken ETH could drop further.
Volume is quite high and it increases when price goes down: not a good signal.
Indicator are still "loaded", favouring a possible fall.
To sum up:
if price breaks steadily 250 USD----> 220 USD----> 200 USD
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
Trade closed: target reached:
First target reached
Trade closed: target reached:
Second target reached. All position closed