The crypto-currency market. ETH/USD forms a “double top”

The pair ETH/USD remained in an upward trend since April this year, while the general sentiments on the crypto currency market have significantly decreased, which can be seen in other digital currencies. ETH/USD since the beginning of the week is trading with a decline, thereby continuing to form the figure of “double top”.

Technically, to develop the signal for this pair, it is necessary to overcome the support zone 700.00-682.50, in which the lower limit of the ascending channel is also located. The development of this figure will serve as a reversal of the uptrend and may become the reason for a deep correction to the support levels: 630.00 and 600.00. Resistance is located at the levels: 760.00 and 790.00, the update of which will cancel the expectation of a decline.

Fig. ETH/USD. The current price is 729.50.

Hanzenko Anton