THELOGICALINDIAN - Ethereum amount bootless to ascend college against the US Dollar which has added a lot of bearish burden on ETHUSD in the abreast term
Ethereum Price Resistance
ETH amount faced a lot of sellers bygone adjoin the US Dollar and Bitcoin. There was a accessory leg college appear the $11.95 level, but the sellers managed to assure any added gains. The capital barrier on the upside was yesterday’s accent bearish trend band on the alternate blueprint (data augment via SimpleFX) of ETH/USD. It acted as a absolute attrition zone, and disabled the ETH buyers from demography the amount higher.
Currently, the amount is trading abreast the contempo low of $11.72, and may anon breach it added losses. The abutting stop on the downside breadth there can be affairs absorption is at $11.60. On the upside, the accent trend band resistance breadth may abide to act as a barrier. Moreover, the 23.6% Fib retracement akin of the aftermost leg from the $12.17 aerial to $11.72 low is additionally about the trend band to stop the buyers.
Any added assets may booty the amount appear the 100 alternate simple affective average, which is sitting abreast the 50% Fib retracement akin of the aftermost leg from the $12.17 aerial to $11.72 low. Overall, the amount is in a downtrend, and may abatement added in the abbreviate term.
Hourly MACD – The MACD is currently in the bearish zone, but there is no access in the momentum.
Hourly RSI – The RSI is currently about the oversold readings, but with no signs of a recovery.
Major Support Level – $11.60
Major Resistance Level – $11.90
Charts address – SimpleFX
