ETH – Parallel Channel

Ethereum downtrend remains intact as it trades within a bearish parallel channel.  ETH tested the support level $3585 today and rising again to the middle line resistance of EMA 20. The next resistance is at EMA 200 above $4000. Ethereum is headed towards next support level of 3232, fib 1.618. The combined resistance of EMA might prove a good resistance for Ethereum.