THELOGICALINDIAN - Ethereum amount attenuated as the bears did not stop in demography the ETH bottomward adjoin the US Dollar More losses ahead
Ethereum Price Resistance
There was no endlessly the Eth bears as they took Ethereum amount added lower adjoin the US Dollar. A new account low was formed at $9.30 area buyers appeared and managed to advance the amount a few credibility higher. However, there are now several important resistances on the upside, which may appulse the amount in the abbreviate term.
On the upside, there are a brace of bearish trend curve formed on the alternate blueprint (data augment via Kraken) of ETH/USD, which may comedy a acute role in attention the upside move. First, there is a accessory bearish trend band positioned at $10.80. Second, an upper bearish trend line, the one we followed this accomplished week. The high bearish trend band may act as a above hurdle for the beasts in the abbreviate term.
The best important point is that there are a brace of things accumbent at $11.20 like the bearish trend band and the 100 alternate simple affective average. So, we can say that the declared akin is a above action area area the bears ability arise if the amount attempts to move higher.
Hourly MACD – The MACD has confused into the bullish zone, but may afresh go into the bearish slope.
Hourly RSI – The RSI managed to animation from the oversold reading, which is the alone absolute sign.
Major Support Level – $10.00
Major Resistance Level – $11.20
Charts address of Kraken via Trading View
