empty
 
 
25.03.2021 02:21 PM
Ethereum breaks below $1,600 approaching our first target

Ethereum has broken below the support neck line of $1,700 and as we mentioned in our last analysis, price was back testing the break down area. A rejection off the resistance of $1,700 that was once support, would lead to a new lower low and eventually towards $1,500.

This image is no longer relevant

Green line - trend line support (broken)

Red line- resistance

Red rectangle - neckline support

Blue lines - expected size of decline if price breaks neckline

ETH/USD is trading at $1,568 and short-term trend is bearish. The first warning signal to bulls came when price broke the upward sloping green trend line. The second warning signal and most important bearish signal so far came when price broke below $1,720-$1,700 support area. Then we gave $1,500 as short-term target. Yesterday price back tested the resistance that was once support and is moving lower towards our first target. So far price has fallen as low as $1,544. If that level is broken, we should expect Ethereum to continue lower towards $1,500 and $1,430. Resistance at $1,700 remains key for the short-term trend. As long as we trade below it, price is vulnerable.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $9000 más!
    ¡En Mayo, sorteamos $9000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback