- Quiet day in the cryptosphere doesn’t allow the ETH/USD pair to make sharp moves in either direction.
- $400 stays as the next critical support ahead of YTD lows.
- The RSI’s recovery to 40 on the daily chart is not enough to suggest a deep recovery.
Spot rate: 438.20
Relative change: +1.7%
High: 442.30
Low: 429.35
Trend: Bearish
Support 1: 400 (Jun. 29 low/end point of May 5 – June 29 doıwntrend).
Support 2: 360 (2018 low).
Support 3: 300 (psychological level/horizontal support from Nov. 2017).
Resistance 1: 455 (20-DMA).
Resistance 2: 500/505 (psychological level/Fibo. 23.6% retracement of May 5 – June 29 downtrend).
Resistance 3: 570 (Fibo. 38.2% retracement of May 5 – June 29 downtrend).