THELOGICALINDIAN - Ethereum amount is adverse a above attrition abreast 5350 adjoin the US Dollar Can ETHUSD breach it and move added higher
Ethereum Price Resistance
There was a nice upside move bygone in ETH price, as it confused aloft $51.00 adjoin the US Dollar. The amount is now positioned well, but it is disturbing to breach a monster attrition abreast $53.50. The aforementioned akin acted as a hurdle on 3-4 occasions. So, it won’t be accessible for buyers to breach $53.50 and advance the amount higher. At the aforementioned time, if they succeed, the abutting akin could be $55.00. During the accomplished 24 hours, there are two failures already, and it’s a bad assurance in the abbreviate term.
On the downside, an antecedent abutment is at 38.2% Fib retracement akin of the aftermost beachcomber from the $47.50 low to $53.48 high. However, the best important abutment is abreast the 100 alternate simple affective boilerplate at $50.00. Above it, there is a new bullish trend band at $51.10 on the alternate blueprint (ETH/USD, abstracts augment via SimpleFX). The aforementioned trend line additionally coincides with the 50% Fib retracement akin of the aftermost beachcomber from the $47.50 low to $53.48 high. So, we can say there are two important abutment levels at $51.10 and $50.00.
The trend band is ascending, which agency there would be a breach anon either aloft $53.50 or beneath $51.00.
Hourly MACD – The MACD is currently aloft the 50 level, which is a absolute sign.
Hourly RSI – The RSI is boring abbreviation the bullish slope.
Major Support Level – $51.10
Major Resistance Level – $53.50
Charts address – SimpleFX
