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Short

ETHUSD - Implacable descending channel

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Ethereum ranks second in the cryptocurrency ranking. The capitalization amounts to more than 80 billion dollars and its price has fallen by over 4% in the last 24 hours.

ETH quotes move in the inheritance channel. We currently see a price rejection from its upper limit. The price goes to support at 791.5 USD. If it is broken, the next target will be around 576.5 dollars. Alternatively, if 791.5 USD support is able to stop the price from further declines, the nearest barrier for further increases will be 982.5 USD.
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