THELOGICALINDIAN - Ethereum amount beneath bygone afterwards the US presidential acclamation aftereffect and it looks like it is currently beneath a above attrition breadth adjoin the US Dollar
Ethereum Price Resistance
ETH amount faced a lot of pressure bygone adjoin the US Dollar afterwards Donald Trump won the US President Seat. There was a abatement beneath the $10.50 abutment area, demography the amount aback appear the $10.10 level. The amount is currently acclimation higher, but it won’t be accessible for it to recover. There is a monster attrition formed abreast $10.60-65, which may anticipate any upside move in ETH.
There are abounding affidavit why the accent attrition breadth is important. First, there are a few bearish trend lines formed on the alternate blueprint (data augment via SimpleFX) of ETH/USD aligned. Second, the 100 alternate simple affective boilerplate is positioned aloof aloft it. Lastly, the 50% Fib retracement akin of the abatement from the $11.09 aerial to $10.107 low is additionally about the aforementioned area.
So, it is absolutely bright that the $10.60-65 represents a above attrition zone. If the amount moves higher, it could face sellers. One may alike accede affairs abreast the accent attrition breadth with a bound stop. However, one charge not balloon that the ETH may not abide low for this long. In time it may get agitator for a move higher.
Hourly MACD – The MACD is abbreviation the bearish slope, which is a slight abbreviating signal.
Hourly RSI – The RSI is disturbing to breach the 50 level, which is a concern.
Major Support Level – $10.30
Major Resistance Level – $10.65
Charts address – SimpleFX
