THELOGICALINDIAN - Ethereum amount recovered able-bodied from losses adjoin the US Dollar and Bitcoin and ETHUSD is now attractive to extend assets aloft a above attrition at 256
Ethereum Price Trend Line Resistance
Yesterday, we saw a major decline in ETH amount appear the $240 akin adjoin the US Dollar. The amount begin abutment and managed to break aloft the $240 support. Furthermore, there was no abutting beneath $240 and the 100 alternate simple affective average. The amount recovered, and confused aloft the 38.2% Fib retracement akin of the aftermost abatement from the $263 aerial to $238 low.
Later, the amount was able to achieve aloft the $250-252 resistance. At the moment, the amount is disturbing to breach a aloft attrition trend band at $256 on the alternate chart. It is attention assets aloft $256 and endlessly buyers from demography the amount appear the $263 high. A breach and abutting aloft $256 is bare for buyers to accretion momentum. On the downside, the 100 alternate SMA holds the key at $249. Below it, there is a analytical bullish trend band abutment at $244.
An average abutment is at $247, which is the 50% Fib retracement akin of the aftermost beachcomber from the $230 low to $263 high. Overall, there are aerial affairs of an upside breach appear $263-265 in the abreast appellation as continued as ETH stays aloft $240.
Hourly MACD – The MACD is boring affective aback in the bullish zone.
Hourly RSI – The RSI is currently aloft the 50 akin and branch higher.
Major Support Level – $240
Major Resistance Level – $256
Charts address – SimpleFX
