ETHUSD Could Drop to Support Level

ETHEREUM CHART PRICE – ETHUSD DAILY

Ethereum touched the support level on June 27th, we were expected the price to drive all the way to its resistance level, however after two days of gains the price started moving in the opposite direction, Relative Strength Index started to gain momentum in the previous sessions and yesterday it drop a few points, currently at 45%, the price has enter the Ichimoku cloud which can be translated as market uncertainty, we do not have enough evidence to place a trade right now but we will monitor the RSI and price level during the next few hours in order to make a trading decision, if the price continues to fall we would place a Sell order with a take profit on the 213 level, the price of ethereum has been very solid during the last month, always trading inside the 213 and 250 range. The bollinger bands look like they are about to open up, we could expect volatility in the next few days.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.