Technical Observation

Ethereum is currently in a range. Yesterday, Ether barely tested the 4 hour support line $403.50 and is still rallying around this line. I'm waiting for a clear sign that the price has broken below this line to pick a low risk short position with an ideal take profit at $321.10. On its way to the lowerside, the key lines to check for include $378.00, $350.21, $340.21 and $321.10. If these lines are broken, then further rally to the lower side is expected. On the other side, should the price rise above 403.50, then I will consider a long position.

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