THELOGICALINDIAN - Ethereum amount faced offers during the contempo balance attack It looks like ETHUSD is assertive for a analysis of 700 in the abbreviate term
Ethereum Price – Trend Line Resistance
Ethereum amount ETH connected its declivity and moved added down. Yesterday, there was an attack to actual higher, but a bearish trend band formed on the alternate blueprint (data augment via Kraken) of ETH/USD prevented the upside move and pushed the amount bottomward already again. The accent trend band attrition holds a lot of importance, as it acted as a barrier for the ETH beasts on abounding occasions.
An antecedent attrition on the upside lies at the 23.6% Fib retracement akin of the aftermost bead from the $8.55 aerial to $7.116 low. We charge to accumulate a abutting eye on the trend band and attrition area. A break and close aloft it could booty the amount appear the abutting attrition area, which is at the 100 alternate simple affective average, ancillary with the 50% Fib retracement akin of the aftermost bead from the $8.55 aerial to $7.116 low.
One may accede affairs rallies as continued as the amount is beneath the trend band attrition with a stop aloft it, and attending for a analysis of the $7.00 abutment area.
Hourly MACD – The MACD may be positioned to move in the bearish zone, which is a bearish sign.
Hourly RSI – The RSI is aloof about the 50 level, calling for the abutting move.
Intraday Support Level – $7.11
Intraday Resistance Level – $7.50
Charts address of Kraken via Trading View
