The downward trend on the cryptocurrency of ethereum continues. The supply side as a result of dynamic drops has reached another strong level of support located in the price region of $ 570. The buyers have clearly reacted to this area and currently the rebound seems to be a probable scenario.

Picture 1. Technical analysis, ethereum, D1,15.03.2018

In the case of the growth scenario, the first serious level of resistance is the downward trend line. A bit higher is an equally strong area of $ 770.

Picture 2. Technical analysis, ethereum, H4,15.03.2018

The possible continuation of the southbound traffic does not have too much room to develop falls due to the tightly located support level located around $ 500.

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

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