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A quick move expected on ETHUSD as it starts approaching a support line of a Channel Down

ETHUSD is heading towards the support line of a Channel Down and could reach this point within the next 19 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

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After testing the resistance line numerous times, FRA40 is once again approaching this line. Can we expect a bullish trend to follow?

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Support line breached by Merck & Co. Inc.. This price has been tested at least twice before.

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