Etherium being squeezed, watch for a potential bearish breakout!

20 thg 2, 2018

Etherium is currently being squeezed against major resistance at 987 due to our ascending support line pushing it up bit by bit. We can see major resistance at 987 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at that level to push price down towards 781 support (Fibonacci retracement, horizontal swing low support). We do have to keep an eye on our ascending support line as only a break of that support line could signal a bearish acceleration in price.

Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.