Short-term analysis, as a magnification of the bigger picture I posted here 
.
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$, when crossing the old support line, which has now become resistance.
Targets:
Both supports and resitance are dynamic, so their value will change as time goes by.
RSI trendline as well can work as a support in the case the prices start dropping again (yellow circled)
After the rising wedge's (1 May - 7 May) breakout, prices has dropped by nearly 14% from the breakout point.
Prices found support at a short-term upward trendline, defining in this way a channel with a price range of 22-23%.
ETH will find HEAVY resistance in the 840-870$, 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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