Ethereum has dropped strongly and is bouncing off key support at 709 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level. Our next major level of support is at 653 (Fibonacci retracement, horizontal swing low support) and our next major level of resistance is at 804 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support at 6.7% where a possible bounce could occur.
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 seeing major support at 6.7% where a possible bounce could occur.
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