Yesterday we witnessed a dynamic depreciation of the majority of crypts in this ethereum. The reason for the decreases was the appearance of information on the possibility of greater market regulation, among others in the US or Japan. As a result of these disturbing news ethereum quotes fell in the support area of $ 710.

Picture 1. Technical analysis, ethereum, H1,08.03.2018

In the case when the currently tested support will be broken then the traffic towards the south should become more dynamic. In this scenario, the next target for bears is around 510 dollars.

Picture 2. Technical analysis, ethereum, H4,08.03.2018

However, there are many indications that we will see at least a short-term reflection from the tested support with the first target in the region of $ 770.

Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.

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