Technical observation

ETH is still below the resistance zone 302.71-299.63.On 1st of this month ETH bounced off from the long term resistance zone and is still on its way downwards. I expect a surge to the lower side towards the support 256.34 and a bounce from it for short term traders to pick long positions. I went short after the bounce from the resistance zone 302.71-299.63 and I’m still holding onto it with my sell exit being 256.34.If you are not in a trade already, you could wait for correction to 302.71-299.63 followed by a bounce from it to pick short positions. Long positions may only be recommended above the zone 302.71-299.63.

Trade signal

Remain short.

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