FX.co ★ #Ethereum chart analysis

For ETH/USD, the situation is shaping up in favor of the bears. Цена торгуется около 1796.6 и пытается закрепиться ниже локальной поддержки на 1810.8. Momentum is on the sellers' side, and the asset is confidently moving toward resistance at 1590.8. Fundamentally, ether is weakening against the backdrop of a general capital outflow from cryptocurrencies and the strengthening of the dollar. This week US inflation data could add volatility. I plan to sell from 1796 with a tight stop above 1820. If I see a confirmed close below 1780 on the hourly chart, I will hold the short until 1590.8. If it returns above 1820 the scenario will be invalidated, and then one can look for buying opportunities.