Sell ETH | 08 August 2018

Technical Observation:

After breaking above the three Simple Moving Averages, ETH has been on a constant downtrend and is still very bearish both on the lower and the higher time frames. While the price is contained below these three, I expect a spike to the lowerside with an ideal take profit at $295.01. On its way to the lower side, I expect a bounce from the following lines, $375.21, $360.12, $320.12 and $300.00. If these lines are broken, then a rally towards $295.01 is expected. As it is, only a buy position looks ideal.

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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.