Bulls in the market Ethereum consolidate volumes to breakthrough resistance at $220. Failure buyers of ETH will increase the risks of a deeper correction price Aldona.
The four-hour chart the ETH/USD
In the previous forecast it was assumed that the bulls are in the market of Ethereum will not be able to overcome the resistance of sellers ETH on the important level of $220. Against the background of short-term growth in sales, the quotes dropped to the support level at $216.
Bearish is testing support price of ETH/USD confirmed its consolidation customers sufficient quantities, to protect their open positions above $216.
In the second half of the trading session of November 7, the bulls try to restore the upward movement of the pair of ETH/USD marked a new, local level of resistance at $218,40.
Assume that during the trading session, on 8 November, the buyers will withdraw the value of the instrument at the level of $220 for retesting of the resistance. In the event of another failure will sharply increase the risks of decline at least to $209,50.