After the period in which the ethereum quotations were in a quite strong downward trend, there is a high probability that the second part of the week will be marked by at least short-term increases. All thanks to the support level in the price region of 500 dollars, from which the price is reflected.

Picture 1. Technical analysis, ethereum, D1,21.03.2018

A possible development of the growth scenario assumes reaching the price at least in the vicinity of the local resistance of $ 630, which is defined on the basis of the principle of changing poles.

Picture 2. Technical analysis, ethereum, H4,21.03.2018

I assess the maximum coverage for potential northbound is the area of the downward trend line.

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

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