Breach below $670.71 | 23 May 2018

Technical Observation

Ether is currently trading with an increasing bearish bias. Yesterday, Ether breached a major support line $670.71 and is still rallying below it. Unless the price again breaks above $670.71 with a big green candle, I expect a rally to the lower side with my first take profit along the 152 Simple Moving Average. If this SMA can be broken, then this will be a confirmation that the price will continue to the lower side with my next take profit being $348.90. On the other side, in case the price breaks above $670.71, then this will be a goo place to buy Ether towards $942.68.

Trade Signal.

Short ETH now towards $532.50