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ETH/USD: technical analysis course, 16-17 November 2018

On the Ethereum market completes a short-term correction of the price of scriptactive. There is a high probability declines ETH/USD to the key support level of $155.

The daily chart of a pair of ETH/USD

In the course of trading on the Ethereum paired with the US dollar on 16 November, the bulls failed to consolidate sufficient volume in purchase to overcome the resistance of sellers on the level of the local maximum price Ethereum $181,00.

On the daily chart formed a bearish candle absorption. At the time of analysis of the market for a pair of ETH/USD is quoted at $173,00. The sellers are “selling” the price support Ethereum key $174,60.

16 ноября ETHUSD H4
16 Nov ETHUSD H4

In that case, if confirmed break of the key support level, we should expect declines in Ethereum at least to the level of the minimum price values – $165,20 from November 14.

During the upcoming trading session on November 17 does not exclude the collapse of quotations in the region of $155 to the third key support level.

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