Technical crypto analysis based on breakout – Short Ether now


Short Ether now

Technical Observation

Ether is currently trading with an increasing bearish bias. Yesterday, value of ETH in comparison with the US Dollar depreciated and went below a daily support line $555.95. This was a significant move and while the price is below $555.95, we expect nothing but a bearish rally towards $348.90. If this line is taken out, then further rally towards $167.10. As it is on the daily chart, I only advocate for short positions, but should the price again rise above $555.98, then I may consider a short term long position towards $670.71.

Trade Signal.

Short Ether now towards $348.90.

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