Ethereum Technical Analysis
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FxNews—Ethereum tested and bounced off the ascending trendline on the 4-hour chart. Immediate resistance rests at $2,480. The pullback could extend to the $2,560 resistance if ETH/USD closes and stabilizes above $2,480.
If this scenario unfolds, the bearish outlook would be invalidated. Conversely, a break below the October 25 low at $2,380 would trigger a downtrend that could extend to the $2,300 mark.
If this scenario unfolds, the bearish outlook would be invalidated. Conversely, a break below the October 25 low at $2,380 would trigger a downtrend that could extend to the $2,300 mark.
Note
Ethereum has returned to test the ascending trendline, a support level that now appears fragile. Meanwhile, the RSI and Stochastic indicators are hovering in oversold territory.
From a technical perspective, the ETH/USD downtrend might ease near the October 21 low at $2,380. However, the downtrend is likely to resume afterward.
Trade fermée: cible de profit atteinte
A bullish target is hit. 
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