Crypto-currency market: Ethereum keeps the downtrend

The pair ETH/USD is traded in the downtrend for the second week in a row, caused by a correction against the April growth. At the same time, the ethereum managed to break through the support level 688.00 (Fibo 23.6 from the April low), which indicates a deeper correction to the support levels: 650.00 and 630.00-625.00.

The sign of entering the transaction will be the consolidation of the pair ETH/USD below the level of 675.00-670.00, which will confirm the downtrend and will open the way to meaningful support. Resistance is located at the levels: 690.00 and 705.00.

Fig. ETH/USD. Current price – 674.00

Hanzenko Anton