The odds are against Ethereum...
Hi, Traders ! Monfex is on the air !
Ethereum had a failed attempt to recover above 21EMA in the near term, hence falling down once again.
* After an unsuccessful attempt to recover and break higher $180, Ethereum price was called upon to retreat to $170 level.
* Indeed, the resistance at $180 appears fairly strong since several technical barriers at once reside at this level. Namely: 21 EMA, minor horizontal support from the local lows, the edge of the descending trendline.
* Since the price has already tested $170 level, it could try to test down the other round-number levels: $160 and even $150.
* The key Support is located inside $150 - $160 area, while there are minor support levels at $172 and $165.
* Overall, we think that we are in the middle of the downside motion and soon we could see at least $160.
Short trade signal is active
Sell @ $172.
Target: $155.
Stop-loss: $177.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Ethereum had a failed attempt to recover above 21EMA in the near term, hence falling down once again.
* After an unsuccessful attempt to recover and break higher $180, Ethereum price was called upon to retreat to $170 level.
* Indeed, the resistance at $180 appears fairly strong since several technical barriers at once reside at this level. Namely: 21 EMA, minor horizontal support from the local lows, the edge of the descending trendline.
* Since the price has already tested $170 level, it could try to test down the other round-number levels: $160 and even $150.
* The key Support is located inside $150 - $160 area, while there are minor support levels at $172 and $165.
* Overall, we think that we are in the middle of the downside motion and soon we could see at least $160.
Short trade signal is active
Sell @ $172.
Target: $155.
Stop-loss: $177.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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