THELOGICALINDIAN - Ethereum amount looks like ambience up for a accessory alteration appear a above abutment breadth of 1320 area it may acquisition buyers
Ethereum Price – $13.20 As Support
Ethereum amount ETH may accept made a concise top abreast $14.38, and ability barter lower vs the US Dollar affective ahead. Yesterday, I accent a bullish trend band on the alternate blueprint (data augment via Kraken) of ETH/USD, and mentioned that it ability act as a abutment area. The accent trend band and abutment breadth is still in abode and if the amount moves down, it could comedy a above role for the bulls.
Moreover, on the downside, the 23.6% Fib retracement akin of the aftermost beachcomber from the $10.30 low to $14.38 aerial can additionally be apparent as a bid breadth back it is ancillary with the trend band and abutment area. The best allotment is the actuality that the 100 alternate simple affective boilerplate is aligned with the trend line, which agency the $13.20 akin represents a monster abutment breadth in the abreast term.
As continued as the amount is aloft the declared abutment area, there is a adventitious of it accepting absorption already afresh and affective higher. Only a breach beneath it could activate added losses. So, if you are attractive to access a buy trade, again abode a stop beneath it.
Hourly MACD – The MACD is in the bearish zone, calling for a accessory correction.
Hourly RSI – The RSI is aloft the 50 level, signaling bullish signs.
Intraday Support Level – $13.20
Intraday Resistance Level – $14.20
Charts address of Kraken via Trading View
