ETHUSD Tests Support Level at 336.65

ETHUSD CHART PRICE – ETHUSD DAILY

Ethereum is testing the support level from our Fibonacci retracement, at some point of the session it broke it but then the price started to recover some ground, if the price is unable to break this level we could see the price bouncing to the 350’s levels in the short term, although e the bollinger bands are very narrow and it could take longer if there is not enough volatility, we see that the relative strength index dropped to 41% but it has stayed the same pretty much since sept 24th, ETH lost 3.66% in the previous session, if the price breaks the support level we see potential in a short trade with a stop loss at around 326, however we can not make a clear prediction until the breakout is consolidated.

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.