THELOGICALINDIAN - Ethereum amount billow connected intraday vs the US Dollar It looks like ETHUSD may be additional added but I advance trading with caution
Ethereum Price Overbought?
Ethereum amount ETH made a new high adjoin the US dollar for the additional time in a new this week, as ETH/USD traded as aerial as $17.78. There was an upside advance demography the amount higher. Furthermore, there was a lot of affairs absorption acclaimed afresh for crypto currencies, as BTC and ETH both were apparent affective higher.
If we attending at the 4-hours blueprint (data augment via Kraken) of ETH/USD, again there was a breach aloft a bearish trend line. The accent breach opened the doors for aciculate assets in ETH, demography it aloft the $17.00 level. More importantly, as mentioned yesterday, the amount confused above the $15.00 level, which was a acute attrition and may now act as a abutment zone.
Currently, the abstruse indicators are in the overbought levels, which is a admonishing assurance for the bulls. There can be a alteration anytime in ETH/USD. So, I advance trading with attention in the abbreviate term, as there is a adventitious of a bottomward move. Only accede affairs if you are agreement a bound stop for your trade, or bigger delay for a above alteration to access into a trade.
Hourly MACD – The MACD is acerb placed in the bullish zone, pointing appear the buyer’s strength.
Hourly RSI – The RSI is about the overbought levels, calling for a alteration in ETH.
Major Support Level – $16.80
Major Resistance Level – $17.75
Charts address of Kraken via Trading View
