ETHUSD approaching resistance, potential drop!
ETHUSD is approaching our first resistance at 203.11 (horizontal overlap resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 188.48 (horizontal swing low support, 61.8% Fibonacci extension).
RSI (55) is also approaching resistance where we might see a corresponding drop in price. Ichimoku cloud is also showing signs of bearish bias in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also approaching resistance where we might see a corresponding drop in price. Ichimoku cloud is also showing signs of bearish bias in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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