ETHUSD: The pair is at an inflection point.

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETHUSD: The contract is into dominant down trend. The RSI is taking resistance at the bear market extreme with a NR formation. 196.50 is a strong pivot level. The contract needs to register a close above it to establish a trend change (as a double bottom is noticed). However any failure to move above 196.50 will lead to resumption of the trend down again. The probable southward targets are 152, 140 & 134.

Bharat Jhunjhunwala

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