easyMarkets
Short

ETHUSD approaching resistance, potential drop!

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETHUSD is approaching our first resistance at 175.50 (horizontal overlap resistance, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong drop might occur to our major support at 156.75 (horizontal swing low support, 50% Fibonacci retracement ).
Stochastic is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Come join us today at : https://www.easymarkets.com/
Watching closely as a lot of retail traders will most likely predict a move down (which could happen) but this could form the perfect liquidity of sells for the bulls to place their large buy orders to drive the price back up. We're long and holding but are ready for the short if we do head there. Thanks for the great update guys!
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out