By Christopher Romano — Aug 01 - 12:00 PM
Ether's corrective bounce off the July 25 low peaked on July 29
A 7-session low traded Thursday, the July 25 low is now near breaking
Investors seeking out safer assets helped drive Ether down to 3101.32
Equity ESv1, US yield US2YT=RR, gold XAU= drops weighed on Ether
Broad based US$ buys, USD/CNH rally to 7.2579 added weight on Ether
Techs are bearish; RSIs are falling, Ether trades below 10- & 50-DMAs
Break of July 25 low may trigger stop loss selling
Ether bear may target July's monthly low should that support give way
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary