Technical crypto analysis based on breakout – Still short towards $555.90

ETH –

Still short towards $555.90

Technical Observation

Yesterday, my stop was taken out when the price went below $654.90. I expected surge upwards from $654.90 but from the looks of things, this crypto could continue to plunge especially now that the price is below the three Simple Moving Averages. I said earlier this month, anytime the price is below the three SMAs 14, 52, 152, expect a surge to the lower side. Thus, with this case, we expect nothing but a momentum towards $555.98, and if this take profit line is broken, then the price will continue to the lower side towards $348.90.

Trade Signal.

Still short towards $555.90

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