Ether Price Forming Uptrend
The ETH/USD pair is in fresh decline from $291 zone on Monday and pressuring again $270 support where sellers attack was strongly rejected.
A downside wave was initiated from the $291 high and the pair broke a short-term bullish trend line at $279 on the 30 min chart. Ether is currently above the $270 support and following a bearish trend line with resistance at $275.
The $270 support is also the 50 percent Fibonacci retracement level of the last wave from $251 to $291. However, the strongest support for Ether on Monday sits at $260 (resistance turned support)
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please refer to: https://www.ethnews.com/analysis/07-03-2017-ethusd-forecast-bullish-rally-takes-a-breather