ETHUSD Unable to Break Support at 336.18

ETHUSD CHART PRICE – ETHUSD DAILY

Ethereum reached and broke the resistance level on the fibonacci retracement at 336.18 two sessions ago, however the following day it closed the day with a gain of 1.22% getting away from that breakout consolidation, in today’s session the pair is down 0.76% and is now close to that support once again, the price trades inside the ichimoku cloud which can be interpreted as uncertainty, if the pair is able to break that support and exit the cloud we could be looking at a potential downtrend, although bollinger bands are very narrow and high volatility is not expected, we would need to wait for more convincing signals in order to make a prediction, for now let’s keep an eye on the pair and see how it behaves in the next hour to help us come up with a trading idea.

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.