Technical analysis of the price of Tai F
2018-06-06 16:05:52source：Bit news199
After ETH price reached US $712.43, the downward revision was initiated.
ETH/USDT's hourly chart shows that the two key bullish trend lines highlighted yesterday were $675 and $665 (figures from Kraken).
ETH's downlink support is good and may rebound to above $700.
ETH price support:
The price of ETH has soared recently, breaking through the $685 and the US $700 mark, forming a recent high of US $712.43. Then the price began to go down to less than $690, breaking the previous 23.6%Fib retracement of the previous upward wave, which rebounded from a 635 dollar low to a high of $712.
However, the downlink correction was supported by $675 in regional protection. The 38.2% retracement level of the previous upward wave (from a low of 635 dollars to a high of 712 dollars) has played a strong supporting role. What's more, ETH/USDT's hourly chart shows that the two key bullish trend lines highlighted yesterday are 675 and 665 US dollars. ETH is starting to rebound with $675, with a price of close to $700, which may soon break through the 700 dollar mark again and try to retest the $712 concussion, and possibly even reach a new high of $712.43 in the short term.