THELOGICALINDIAN - Ethereum amount enjoyed a nice accretion vs the US Dollar and if the accepted trend in ETHUSD continues again the amount could accretion further
Ethereum Price – Buy Dips
Ethereum amount ETH connected to accretion strength, and traded college afterwards announcement intraday gains. The upside move was able abundant to breach yesterday’s accent bearish trend line on the alternate blueprint (data augment via Kraken) of ETH/USD. The contempo breach looks positive, and if the ETH beasts abide in control, again there are affairs of added assets in the abbreviate term.
The amount additionally confused aloft the 50% Fib retracement akin of the aftermost bead from the $14.40 aerial to $10.29 low, which is a bullish sign. Yesterday, I declared that the amount may analysis the 61.8% Fib retracement akin of the wave, and it did analysis it. Affective ahead, there is a achievability of the amount affective a few credibility bottomward afore it can abide to move higher.
On the downside, the burst trend band may act as a abutment area, and can be advised as a buy zone. I anticipate as continued as the amount is aloft the 100 SMA, it may accretion further. So, buyers can abode a stop beneath the 100 alternate SMA.
Hourly MACD – The MACD may change the abruptness to the bearish area to burn a accessory downside.
Hourly RSI – The RSI is aloft the 50 level, which is a absolute assurance for the bulls.
Intraday Support Level – $12.30
Intraday Resistance Level – $12.80
Charts address of Kraken via Trading View
Header Image via NewsBTC
