THELOGICALINDIAN - Ethereum amount acquired added drive adjoin the US Dollar and Bitcoin and it looks like anon ETHUSD may breach 100 for added gains
Ethereum Price Remains Supported
In yesterday’s analysis, we noticed that the overall trend charcoal bullish in ETH amount as connected as the amount is aloft $80 adjoin the US Dollar. The amount connected to accretion momentum, as it confused aloft the $86.00 high. The upside surged as nasty, as the amount alike bankrupt the $98 level, and about activated the $100 level. There was a aerial formed at $99.59 (data augment via SimpleFX) afore the amount started acclimation lower.
It is currently acclimation lower, and may anon analysis the 23.6% Fib retracement akin of the aftermost beachcomber from the $88.48 low to $99.59 high. There are abounding supports on the downside, including $96.00. There are additionally two important bullish trend curve with abutment at $92 formed on the alternate chart. The best important abutment could be abreast the 50% Fib retracement akin of the aftermost beachcomber from the $88.48 low to $99.59 aerial at $94.00.
So, if the amount moves bottomward further, it could acquisition abutment amid $96-94. As continued as the amount is aloft $92, it may anon claiming the $100 level. A breach aloft $100 is actual likely, and affairs dips charcoal a acceptable option.
Hourly MACD – The MACD is placed actual able-bodied in the bullish zone.
Hourly RSI – The RSI is currently affective about the overbought levels with no assurance of a correction.
Major Support Level – $94
Major Resistance Level – $100
Charts address – SimpleFX
