Price Ethereum able to carry out the correction on a few points higher, but not strong enough to gain traction - is a risk of further reduction.
The barrier for the growth of prices Ethereum:
Yesterday the price of ETH was able to move a few points above and begin to trade near $ 11.52. The price also rose above the 50% Fib at $ 11.64 to $ 10.97. However, she could not keep the bullish bias and re-start to decline.
If you look at the hourly chart ETH / USD (dannyeSimpleFX), you can see that there are several important points that should be taken into account. First, this week highlighted the bearish trend remains in the game. Also there is another bearish trend line is formed just below the main.
And finally, one of the trend line is located near the 100 hour simple moving average. Thus, we can say they can act as one of the major obstacles to the upward movement in the pair of ETH / USD.
Technical Analysis Course Ethereum:
As long as the price is below the resistance level, it will not be able to start full-fledged upward movement. First, buyers need to break through the level of $ 11.60, which could trigger a rally in the pair of ETH / USD.