THELOGICALINDIAN - Ethereum amount boring confused bottomward from the 1120 aerial and currently beneath a accessory bearish burden against the US Dollar
Ethereum Price Resistance
Ethereum amount ETH traded positively adjoin the US dollar until it begin sellers abreast $11.20. There was a downside move in ETH/USD, which pushed the brace beneath the 100 alternate simple affective average. There was a new low of $10.52 formed, as the amount boring confused down. Currently, there is a bearish trend band formed on the alternate blueprint (data augment via SimpleFX) of ETH/USD, which is acting as a hurdle.
On the upside, the amount may abide to face attrition forth with the 50% Fib retracement akin of the aftermost bead from the $11.09 aerial to $10.52 low. The ETH buyers charge to breach the accent trend band attrition to be aback in action. If we attending at the indicators, again there are a few converging signs. If buyers accomplish in blame the amount aloft the trend line, again there is a adventitious of a analysis of the 76.4% Fib retracement akin of the aftermost bead from the $11.09 aerial to $10.52 low.
On the downside, we charge to accumulate an eye on the $10.50 level, which is a above abutment area. In my view, affairs should be abhorred in ETH, as it may ascend college anytime.
Hourly MACD – The MACD is currently in the bearish area with no signs of a recovery.
Hourly RSI – The RSI is aloof about the 30 level, and disturbing to move higher.
Major Support Level – $10.50
Major Resistance Level – $11.00
Charts address – SimpleFX
