Hi, Traders ! **Monfex** is at your service !

**The price of Ethereum has bounced down from the** [**Resistance Area**](https://uk.tradingview.com/ideas/supportandresistance/) **of $190 – $196.** [https://uk.tradingview.com/chart/ETHBTC/BmbwON5g-ETH-USD-vs-ETH-BTC-Update/](https://uk.tradingview.com/chart/ETHBTC/BmbwON5g-ETH-USD-vs-ETH-BTC-Update/)


\* The third attempt of the Bulls to drag the price through and out of the [Resistance area](https://uk.tradingview.com/ideas/supportandresistance/) has failed.\* On H4 timeframe, our stop-loss level of $191 was triggered, but the price action down had instantly followed – so the triple top pattern on H4 is now clearly shaped out.\* Following that, we expect the price to continue its short-run retreat to $155 – $160 area at minimum (the worst case scenario).\* [RSI](https://uk.tradingview.com/ideas/relativestrengthindex/) has been also signalling a lack of [bullish](https://uk.tradingview.com/ideas/bullish/) power on the price chart – by a flat divergence on H4 – as the third top was taking shape.\* On [ETH/BTC ](https://uk.tradingview.com/symbols/spread/NYSE%3AETH%2FASX%3ABTC/)chart, we observe the [bullish](https://uk.tradingview.com/ideas/bullish/) strength within 0.0190 – 0.02 range, so the price is not expected to decline significantly below 0.0190. Only in the short-run, the price may decrease to 0.0190 from the current 0.02 – in response to ETH’s decline ag USD.

**Trade signal ag USD**

Sell @ $190.Target: $155 – $160.Stop-loss: $197.

**Trade signal ag BTC**

Buy @ 0.0190 – 0.02.Target: 0.0250 – 0.0270.Stop-loss: 0.0179.

**Watch for our Updates to get real-time superior signals!**


*DisclaimerThis report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.*

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