Behind us is quite a quiet week on the cryptocurrency of ethereum. As a result of lower volatility, we are currently witnessing local consolidation with a lower limit around the key support level of $ 500. The growing supply pressure increases the probability of breaking it.

Picture 1. Technical analysis, ethereum, D1,26.03.2018

In the case of breaking this support and the implementation of the probate scenario, the next target for bears seems to be support located in the price region of $ 380.

Picture 2. Technical analysis, ethereum, H4,26.03.2018

The opposite scenario under which the demand for weapons tested support assumes a rebound and increase and reach prices at least near local resistance of $ 630.

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

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