ETH/USD 4H Chart: Decline likely to continue

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)BuyNeutralSell
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

During the past week, the Ethereum cryptocurrency appreciated about 31.66% in value against the US Dollar. The pair tested the 360.0 marks on June 26. 

Currently, the ETH/USD exchange rate is testing a support level formed by the 61.8% Fibonacci retracement level at 284.4.

If the 61.80% Fibo level holds, bullish traders could aim for a re-tests of the 360 area during the following trading sessions.

However, if the cryptocurrency breaches the support level at 284.4, a south breakout could occur in the shorter term.

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