Technical analysis Ethereum. ETH-USD August 21, 2018

August 26, 2018


The recent flat ended with the growth to Fib 0.236 form the last wave last time. The market can repeat its fractals and we can see the similar movement from the current levels. 250 level has demonstrated good support, but if the asset breaks it during the next fall, we should expect the absence of the possibility to open the long-term trades and be ready for the further fall. On the middle and long-term perspective, the strong resistance 350-375 holds the price from the further global growth. On the smaller timeframes, if to take into consideration the positive scenario for this market, we can point out the closest targets as the resistance levels at 288 and 300, but it’s important to notice that we are near the important downtrend resistance, which if we do not break, it will lead the price down to the previous minimums. The possibility to grow (on the short- term perspective) can be caused by the triangle pattern we are in now, we are at the bottom edge of it (that is a good support) and we can bounce to the upper edge resistance.


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