Ethereum spent Wednesday in a narrow range. The spot traded between 438.500 and 425.000. Buyers managed to leave the range for a few hours. They led the price to the mark 446.00 where the Ethereum turned bearish and returned into the range. The moving averages continued their downward slope. MACD is the negative territory. The RSI indicator continued consolidating within oversold levels. The resistance stands at 450.000, the support is at 425.000.
We suppose that Ethereum will preserve its cautious stance today as well.