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ETH/USD Above Descending Trendline. A Moment of Truth Has Come??

BITFINEX:ETHUSD   以太坊
Ethereum has added nearly two percent in the past 24 hours. However, the situation currently is still far from being positive as the price has difficulties to grow. ETH/USD is above the descending trend line currently meaning buyers have a chance to change the game.
Let’s zoom a bit to the Fibo retracement tool. The price shows low volatility today. It is close to the support area at $566.90. ETH/USD has broken through the descending trend line on Wednesday. Ethereum makes attempts to run higher since, but still needs more power. What are the possible ways for ETH/USD?
1. Red scenario (bearish). ETH/USD will break through the current support area at $566.90 and move lower targeting the next support area at 3.618 retracement level.
2. Orange scenario (neutral). Ethereum will jump off the current support area at $566.90 and move higher towards the next resistance area at $596.08. ETH/USD will reverse there to move lower (flat fluctuations).
3. Green scenario (bullish). The currency pair will reach $596.08 resistance area and move higher towards $626.66 resistance area, which coincides with 1.618 retracement level.

Check the full crypto analysis HERE>>>.

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