The crypto-currency market: ethereum does not leave attempts for correction

The pair ETH/USD is traded for the second consecutive day in the region of 600.000-570.000, which corresponds to the lower boundary of the descending channel. At the same time, this crypto-currency formed the figure of an “inverted head and shoulders”, which can confirm the formation of correction.

ETH/USD continues to be limited to a resistance level of 600.000-610.000, consolidation above which will indicate the formation of a correction to the resistance levels: 630.000-670.000. It is worth noting that this movement is correctional and moves against the general trend. In the end, it can meet significant resistance. Support levels: 570.000 and 550.000.

Fig. ETH/USD. Current price – 590.000

Also, read “Stochastic Oscillator – another useful indicator”.

Dani Leviant