THELOGICALINDIAN - Ethereum amount started a accretion from the 1100 low adjoin the US dollar but it is eventually affective appear a acute attrition area
Ethereum Price Resistance
ETH amount looks like started a recovery adjoin the US Dollar bygone afterwards trading as low as $10.97. The amount confused aloft the 38.2% Fib retracement akin of the aftermost leg from the $11.86 aerial to $10.97 low. It opened the doors for added gains. However, the assemblage bootless abreast a above abstruse level. The $11.60 akin acted as a absolute attrition and prevented any added gains.
Moreover, the 61.8% Fib retracement akin of the aftermost leg from the $11.86 aerial to $10.97 low additionally acted as a barrier and chock-full the upside move. We charge additionally not avoid yesterday’s accent bearish trend band on the alternate blueprint (data augment via SimpleFX) of ETH/USD. It is still alive and accurate on the upside. If the amount attempts to move college one added time, again the accent trend band attrition may anticipate gains.
I anticipate the amount may dip one added time to complete the beachcomber anatomy afore we can attestant a college high. On the downside, the best important abutment is at $11.00, which may abide to anticipate any above losses.
Hourly MACD – The MACD has boring confused abroad from the bearish zone, which is a absolute sign.
Hourly RSI – The RSI attack to abutting aloft the 50 akin failed, and it is now aback testing the 40 level.
Major Support Level – $11.20
Major Resistance Level – $11.60
Charts address – SimpleFX
