In the short term is expected to decrease in quotations of ETH/USD pair to the level price of $ 206,30 at the level of the reversal of the local trend.
The four-hour chart the ETH/USD
During the American trading session on Ethereum bears increased the pressure.
At the time of the market review price pair of ETH/USD is squeezed in a narrow range where the lower bound represents the trend line support. The current price of Ethereum – $208,15.
In the case of breakdown of support at the dynamic level, $207,90 that has a high probability, we should expect declines to the level of a trend reversal at $206,30.
Data RSI14 indicator indicates the exhaustion of buyers. The RSI in the sell zone below the level of 40, the line has a tendency to turn down at the breakdown of the border zone oversold.
Day traders when looking for a point of entry into the market should be aware of the General market bearish sentiment strengthening. Reversal breakout level of the decline of the stock market may cause the collapse of quotations to support level of $196.