ETHUSD is approaching our first support at 156.61 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 168.67 (horizontal swing high resistance, 38.2% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.