Ethereum in an area of resistance
Ethereum is now testing an area of resistance (Multiple 61.8% Fibonacci retracement, 76.4% Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this area to push price down towards support level at 583 (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is dropping nicely with good downside potential that could correspond to the drop in price too.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is dropping nicely with good downside potential that could correspond to the drop in price too.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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