ETH/USD breaks descending pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On February 7, the price for Ethereum broke the upper trend line of the channel down pattern, which had guided the cryptocurrency since the start of November.

If the ETH/USD pair continues to surge, it could test the resistance of the 50-day simple moving average near 3,180.00. Higher above, note the resistance zone of the high and low levels at 3,380.00/3,500.00. In the meantime, take into account the 200-day simple moving average near 3,565.00.

On the other hand, a decline of the pair might find support in the 3,000.00 mark, before September low level zone at 2,650.00/2,757.00. Further below, note the January low levels near 2,300.00
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