ETHUSD Tests Resistance

ETHUSD CHART PRICE – ETHUSD DAILY

Ethereum has fallen below its resistance level, at some point it went as high as 245 we see that the Relative Strength Index dropped from 58 to 53% in the last two trading session, this means that many traders started going short on this pair, and many traders have closed their Buy positions, we anticipate the price to start falling in the short term, in the next few sessions we could see the price fall as low as 220, since the bollinger bands are wide we could expect some volatility, hopefully this would drive the price to the low 200’s level as the RSI keeps dropping,  we see a Sell signal even with the price trading above the Ichimoku cloud, the moving averages also indicate that we could expect a downward trend.

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.