Ether Breaks Short-Term Bullish Trendline, Support Below $3.3K

Posted on by American Coins & Gold

Ether Breaks Short-Term Bullish Trendline, Support Below .3K
Ether’s short-term pattern has turned bearish with the cryptocurrency finding acceptance under a crucial support.The native token of Ethereum’s blockchain fell more than 8% on Monday, falling below an uptrend line connecting July and September lows.Ether printed a UTC close under the widely-tracked 100-day moving average with the long-held support level of $3,900 turning into resistance.The breakdown is backed by a below-50 reading on the daily relative strength index chart, which could encourage more selling. The weekly histogram of trading indicator moving average convergence divergence (MACD) also fell below zero, indicating a bearish trend.“Both the weekly stochastics and MACD are…