ETH Exits from Range

Ethereum briefly entered the ranging zone but with today’s decline, it broke the downside opening the door for steeper decline. As shown in the chart, Ethereum should head towards its first support of $3755, fib 0.786. After that the next target would be the December low at $3645. A short reversal might happen before a final descend but the resistance of $4000, fib 0.236 is hard to break above.