THELOGICALINDIAN - Ethereum amount traded college against the US Dollar and my buy dips abstraction presented bygone is arena able-bodied in the abbreviate term
Ethereum Price Support
Ethereum amount climbed a few credibility higher during the accomplished 24 hours adjoin the US Dollar to set a aerial of $13.21. I mentioned bygone that the amount charcoal accurate on the downside, and affairs dips may be a acceptable advantage in the abreast term. It looks like the presented abstraction is alive well, as the amount bankrupt the 61.8% Fib retracement akin of the aftermost bead from the $13.34 aerial to $12.53.
It is a bright arresting that the amount is now in the third beachcomber and ambience up for addition upside move. After trading as aerial as $13.21, it started acclimation lower. During the downside, it acclimatized beneath the 23.6% Fib retracement akin of the beachcomber from the $12.59 low to $13.21 high. However, the amount charcoal accurate on the downside. As highlighted, there is a bullish trend band formed on the alternate blueprint (data augment via SimpleFX) of ETH/USD. It may act as a above barrier for the sellers.
An actual abutment is at the 100 alternate simple affective average. There is a adventitious of a dip appear the trend band to access buyers, and again move higher. I anticipate one may accede affairs as continued as the amount is aloft the trend band support.
Hourly MACD – The MACD is currently in the bullish zone, which is a absolute sign.
Hourly RSI – The RSI is additionally aloft the 50 level, and signaling an uptrend.
Major Support Level – $12.95
Major Resistance Level – $13.20
Charts address – SimpleFX
