THELOGICALINDIAN - Ethereum amount is still in the bullish area adjoin the US Dollar and Bitcoin ETHUSD could abide to move college aback appear the 1360 level
Ethereum Price Support
There was a appropriate movement in ETH amount aloft the $1300 akin adjoin the US Dollar. The amount started a accessory downside alteration afterwards trading as aerial as $1415. It traded lower and confused beneath the $1360 and $1300 abutment levels. However, the downside move was adequate by the $1260 akin and the 100 alternate simple affective average. Later, the amount started affective college and was able to move aback aloft the $1300 level.
There was a breach aloft the 38.2% Fib retracement akin of the aftermost abatement from the $1415 aerial to $1260 low. Moreover, there was a breach aloft a key bearish trend band with attrition at $1310 on the alternate blueprint of ETH/USD. The brace is now trading accurately aloft the $1300 akin and the 100 alternate simple affective average. On the downside, there is a bullish trend band with abutment at $1298. As continued as the amount is aloft the $1298 akin and the 100 alternate simple affective average, it charcoal in an uptrend.
On the upside, the amount has to abutting aloft the 61.8% Fib retracement akin of the aftermost abatement from the $1415 aerial to $1260 low at $1350. The all-embracing bent is absolute aloft the $1298-1300 levels.
Hourly MACD – The MACD is boring affective aback in the bullish zone.
Hourly RSI – The RSI is currently aloof beneath the 50 level.
Major Support Level – $1300
Major Resistance Level – $1350
Charts address – SimpleFX
