Ethereum Price Technical Analysis – ETH/USD Holding 100 SMA
·After a move towards $375, ETH price started correcting lower against the US Dollar.
·There is a connecting bearish trend line with resistance at $370 formed on the hourly chart of ETH/USD (data feed via SimpleFX).
·The pair is holding an important support at $335 and the 100 hourly simple moving average.
Read more here: http://www.newsbtc.com/2017/06/19/ethereum-price-technical-analysis-ethusd-holding-100-sma-2/
Keep track of China's planned currency manipulation if you want to invest in cryptocurrencies. That was the primary driver of the last big rush (in my opinion).
To @denha's point, you can't go off technicals alone with any investment. But technicals are typically a good guide of understanding past performance and potential resistance levels.
Don't rely only on technical analysis. You can't predict movement just on the base of the history, especially this new market. Just feel it. I'm saying it as a stock trader for 10 years almost.