Эфириум

Just a normal correction - ETHUSD

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Short-term analysis, as a magnification of the bigger picture I posted here
Inverse H&S - ETH/USD
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After the rising wedge's (1 May - 7 May) breakout, prices has dropped by nearly 14% from the breakout point.
Prices found support at a short-term upward trendline, defining in this way a channel with a price range of 22-23%.
ETH will find HEAVY resistance in the 840-870$, when crossing the old support line, which has now become resistance.

Targets:
  • Support: 690$ (1st level) and 650$ (2nd level)
  • Resistance: 830$ (1st level) and 855$ (2nd level)

Both supports and resitance are dynamic, so their value will change as time goes by.
RSI trendline as well can work as a support in the case the prices start dropping again (yellow circled)

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