Ethereum: Price Analysis, April 06

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ETH/USD

Ethereum has been trading in a tight range, between $358 and $418.70, since March 30. The trend remains bearish as both moving averages are falling and price continues to make lower highs and lower lows.




ETH/USD




If the ETH/USD pair breaks below $358, the downtrend will resume and a fall to $300 levels is likely.

If $358 level holds, the digital currency will continue to consolidate in the tight range. On the upside, resistance is at $418.79 and above this at the 20-day EMA.

We shall wait for signs of buying to emerge before suggesting any trade.

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