THELOGICALINDIAN - Ethereum amount traded college aloof as I accent bygone Moving advanced if all goes able-bodied ETH ability barter appear the 2024 level
Ethereum Price Overbought?
Ethereum amount ETH bygone adapted a few credibility bottomward to barter abreast $16.0 area it begin buyers adjoin the US Dollar and started to move college already again. The amount has about retraced all gains, and currently trading abreast the aftermost beat aerial of $19.30. Currently, there is a bearish trend band formed on the alternate blueprint (data augment via Kraken) of ETH/USD, which may comedy a above role in the abbreviate term.
If the ETH beasts abide in control, and manages to breach the accent trend band and attrition area, again a move appear the all-important $20.0 akin is possible. It additionally represents the 1.236 addendum of the aftermost bead from the $19.30 aerial to $16.09 low. So, there is a adventitious that sellers actualization aloof about the $20.0-$20.20 levels.
On the downside, the $18.00 akin can be apparent as an antecedent support. However, as I mentioned abounding times, the most important buy zone for ETH/USD is now about $15.0. The declared akin was a attrition beforehand and now ability act as a abutment area.
Hourly MACD – The MACD aloof confused into the bullish zone, calling for added assets in ETH.
Hourly RSI – The RSI is aloft the 50 level, which is a absolute assurance for the ETH bulls.
Major Support Level – $18.00
Major Resistance Level – $19.30
Charts address of Kraken via Trading View
