Ethereum: ⬇️ Sell
– Ethereum reversed from the 1800.00 resistance level
– It is likely to fall to the 1500.00 support level
Ethereum recently reversed from the pivotal resistance level of 1800.00 (former double bottom from February) which intersects with the upper band of the daily Bollinger Band and the 38.2% Fibonacci retracement of the downward wave 5 of April.
The 1800.00 resistance level is also the upper limit of the sideways price range within which the price has been moving since June.
Due to the clear daily downtrend and the daily stochastic in the overbought zone, Ethereum is expected to decline further to the next support level 1500.00 – the lower limit of the active sideways price range.
