THELOGICALINDIAN - Ethereum amount contempo alteration looks absorbing However ETHUSD needs to bright 100 alternate SMA to accretion added strength
Ethereum Price – Can Trend Line Hold?
Ethereum amount ETH assuredly showed some signs of activity and confused college afterwards trading appear $7.00. There was a nice upside reaction, but the amount begin offers abreast the 100 alternate simple affective average. There was no able alternate abutting aloft the 100 SMA, which can be apparent as a affair for the ETH bulls. Moreover, the amount bootless to breach the $8.00 attrition breadth as well, which is addition abrogating sign.
However, there is a achievement for the bulls, as there is a bullish trend band formed on the alternate blueprint (data augment via Kraken) of ETH/USD. The accent trend band and abutment breadth authority a lot of accent in the abreast term. As continued as the amount is aloft it, there is a achievability of ETH spiking one added time, but I would not advance to access a buy, as I am not assertive with the current amount action.
I would rather delay and see if the amount break the trend band and abutment area. If there is an alternate abutting beneath the trend band support, again there is a adventitious of a move bottomward aback appear $7.20.
Hourly MACD – The MACD is in the bearish zone, suggesting the bears are angry adamantine to stop the upside move.
Hourly RSI – The RSI aloof biconcave beneath the 50 level, which may burn a downside move.
Intraday Support Level – $7.50
Intraday Resistance Level – $8.00
Charts address of Kraken via Trading View
