Ethereum Analysis

* We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.

Ethereum bounced back from $367 level after a sharp fall. Moreover, it has broken down an old uptrend which showed a strong selling pressure. Again don't forget old trends. Actually, this trend that hold the recent fall in March. 18.

Any pullback now will face resistance from the old trend, if the bulls clear it a move to the moving averages is expected, where we anticipate a selling pressure again. The moving averages we are looking for are 20-day Ema and 200-day SMA.

Conversely, Ethereum is trading now on a support zone, however, if this zone is broken down a fall  

to around $300 level is possible.

Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.