Ransquawk

The quotations of cryptocurrencies ethereum have recently recorded a rebound of falls, which reached the vicinity of a strong resistance level located in the price region of USD 500. An additional confirmation of the strength of the indicated area is the downward trend line, the breakthrough of which opens the way to attack at least an area of $ 630. It is very possible that the impulse for growth will be the opening of cryptocurrencies to the Islamic world through the words of one of the high priests.

In the case of defense of the currently tested region, a consolidation scenario within 390-500 is very likely. Then the lower limit of the indicated potential side trend will be a good opportunity to take a buy position.

If it falls below the level of $ 400, there is a way to attack an area of around $ 300, where there is more local support.

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Ransquawk