Ethereum Chart (daily)
Investing.com – After yesterday’s heavy losses, it came this morning at to a reassurance. This can be linked to a tentative stabilization in the form of the hour candle at 10 o’clock, which kicked off a $ 140 recovery. It remains to be seen whether this development can continue. After all, Tuesday’s bout of weakness left its mark on the chart.
Above all, however, the erroneous breakout across the resistance barrier from the 78.6% Fibonacci retracement and an internal trend line at $ 3,800 / $ 3,750 are fueling concerns that the most recent movement impulse could be a larger top formation, but only at would be confirmed on a drop below $ 2,977 / $ 2,950.
A fall under this support serves as a catalyst for even significantly lower prices.
So the bottom line is that the all-clear cannot yet be given. A stress test of the psychologically important $ 3,000 mark should therefore not be ruled out, especially since the technical indicators in the form of the MACD and RSI have generated fresh sell signals.
To remove the risk of a larger top education out of the way, Ether should therefore stay above the important support at $ 3,330 to 3,350.
Note: This article does not constitute investment advice or a solicitation to buy or sell assets. The article also does not purport to predict the development of the Ethereum price. It is only a subsequent comment on the Ether development, the Ethereum investors about the latest crypto news and the technical starting position of the should inform.
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