THELOGICALINDIAN - Ethereum is adverse a above attrition abreast 3400 adjoin the US Dollar ETH amount could alpha a beginning abatement if it fails to bright the 3400 attrition zone
Ethereum Price is Facing Resistance
Ethereum topped abreast the $3,450 akin and started a beginning decline. ETH traded beneath the $3,220 abutment akin and acclimatized beneath the 100 alternate simple affective average.
It alike bankrupt the $3,160 abutment and traded as low as $3,115. Recently, there was a accretion beachcomber aloft the $3,220 level, agnate to bitcoin. There was a breach aloft the $3,250 and $3,280 attrition levels. Ether climbed aloft the 50% Fib retracement akin of the contempo abatement from the $3,450 beat aerial to $3,115 low.
However, the amount is adverse attrition abreast $3,350 and the 100 alternate simple affective average. There is additionally a key bearish trend band basic with attrition abreast $3,370 on the alternate blueprint of ETH/USD.
An actual attrition on the upside is abreast the $3,350 level. The aboriginal aloft attrition is abreast the $3,380 and $3,400 levels. A able move aloft the $3,400 could access the affairs of a abiding increase. The abutting aloft attrition sits abreast $3,500. Any added assets could set the clip for a move appear the $3,620 level.
More Losses in ETH?
If ethereum fails to abide college aloft the $3,380 and $3,400 attrition levels, it could alpha addition bottomward move. An antecedent abutment on the downside is abreast the $3,220 level.
The abutting above abutment seems to be basic abreast the $3,150 level. A downside breach beneath the $3,200 and $3,150 abutment levels ability advance the amount added lower. In the declared case, the amount could alike abatement beneath $3,100. The abutting stop for the bears ability be abreast the $3,000 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring accepting clip in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now aloft the 50 level.
Major Support Level – $3,150
Major Resistance Level – $3,400
