Comments of cryptoexperts worried about ETH breaching 2 important support levels ($440 and $420) were spread across the Internet. This can cause panic among unprofessional traders who will try to get rid of their coins dropping the price even further.
Average trading remains big, but it is not stable. The difference between neighboring is huge. On some red increased by several times.
Support at $420 (red) was breached and the rate dropped to the next support at $410 (green). Sellers managed to breach this level, too, but buyers didn`t let them stay there and the closed above it. Former support at $420 is now a resistance. If this level is breached, the rate will be able to go up to $435 (blue), or else sellers will try to breach $410 level.
Resistance remain at $480 (red). The rate is now near $417 (green) support, if it fails to remain there, the next support is formed at $375, which is significantly lower. If the bulls manage to close the above the support, we can assume that the is over, otherwise the trend will go below $400.
After going above the middle line, the rate went back to the bottom band.
is near the 40% mark in the mark.
These indicators demonstrate that the will continue.
The rate is below the .
is low in zone.
lines are far from each other and point downwards.
The on daily is noticeable.
The fate of Ethereum depends on whether the current support works. If it does, bulls will have a chance to raise the price. If not, bears will gain total dominance of the market. In first case, you can open long positions at good price, in second case, you can short.