Technical analysis Ethereum. ETH-USD September 05, 2018

#ETH

It perfectly closed the shorts of the last days that have been posted in the premium channel, the profits are +9.06% and +9.72%. As for the long-term investments it is on the good levels again for the partial take to your crypto portfolio. Globally the markets are staying in the bearish phase and look unpredictably these days. Be careful, watch Ethereum closely, in case of fall there can be an opportunity to add to the long-term position. If to look at the charts on the high timeframes, we can see that we are now at Fib 0.786 (that often serves as a reversal level), that shouldn’t let the market go lower. From the other side, there is a strong resistance of two downtrends (from the global maximum and the April one), the tries to break them may give the bullish impulse as well as the bearish one. The bearish impulse during this period will give an opportunity to add to the long positions on the lower and better price, but the bullish will lead to 320 level test, if we break it the possibility of the further bearish scenario will be lowered and will give a possibility to consider the long trades.