Technical crypto analysis based on breakout – Only sell Ether upon a clear breakout below $555.90

ETH –

Only sell Ether upon a clear breakout below $555.90

Technical Observation

The main thing trending about this crypto is that, for the past fortnight, Ether has been trading with an increasing bearish momentum and even went below the supportive 152 Simple Moving Average. This is a significant move and while the price is still sustained below this level, I expect a momentum to the lower side with my next target at $348.90. As it is on the daily chart, the price is still above a significant daily support line $555.96, unless there’s a clear break below this line, I’ll expect a bounce from $555.98 to buy Ether.

Trade Signal.

Only sell Ether upon a clear breakout below $555.90.

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