THELOGICALINDIAN - Ethereum amount this anniversary accomplished anniversary attenuated but it looks like ETHUSD begin abutment abreast an important abutment of 102024
Ethereum Price Recovery
Ethereum amount ETH started to abatement this accomplished anniversary vs the US Dollar and traded as low as $10.29 area the ETH beasts aloof managed to acquisition bids. A accretion started over the weekend, and there was a accessory upside move, which pushed the amount aloft the 38.2% Fib retracement akin of the aftermost bead from the $14.40 aerial to $10.29 low. However, the amount is currently trading abreast a bearish trend band formed on the alternate blueprint (data augment via Kraken) of ETH/USD, which is acting as a barrier for added gains.
One absolute assurance for the ETH beasts is the actuality that the amount is aloft the 100 alternate simple affective average. So, if they administer to break the trend line and attrition area, again a move appear the 61.8% Fib retracement akin of the aftermost bead from the $14.40 aerial to $10.29 low is possible.
If they fail, again a move bottomward appear the 100 SMA is likely. I anticipate there should be an attack to breach the trend band and resistance, which can be apparent as a affairs befalling with a stop beneath the 100 alternate SMA.
Hourly MACD – The MACD is about to change the abruptness to the bullish zone, which is a absolute sign.
Hourly RSI – The RSI is aloft the 50 level, calling for added gains.
Intraday Support Level – $11.76
Intraday Resistance Level – $12.50
Charts address of Kraken via Trading View
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