THELOGICALINDIAN - Ethereum amount fabricated a downside move adjoin the US Dollar and Bitcoin ETHUSD is now able-bodied beneath 1300 and is currently in a bearish zone
Ethereum Price Resistances
Yesterday, we saw how there was an increase in the bearish affect from $1374 in ETH amount adjoin the US Dollar. The amount started a new downside beachcomber and confused beneath a brace of important abutment levels such as $1320 and $1300. Moreover, there was a breach beneath a acute abutment about the $1276 akin and the amount acclimatized beneath the 100 alternate simple affective average.
The abatement was aloft as the amount traded appear the $1200 level. A low was formed at $1200.57 from area the amount started an upside correction. It has confused aloft the 23.6% Fib retracement akin of the aftermost bead from the $1374.70 aerial to $1200.57 low. However, there are abounding resistances cat-and-mouse on the upside about the $1276 and $1300 level. There are two bearish trend curve basic with resistances at $1276 and $1320 on the alternate blueprint of ETH/USD. The aboriginal trend band is additionally abreast the 50% Fib retracement akin of the last drop from the $1374.70 aerial to $1200.57 low.
Moreover, the $1300 attrition is abreast the 100 alternate simple affective average. Therefore, any above upsides may apparently acquisition sellers staring $1276 up to $1320. On the downside, the contempo low of $1200 is a acute support.
Hourly MACD – The MACD is accepting drive in the bearish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 50 level.
Major Support Level – $1200
Major Resistance Level – $1300
Charts address – SimpleFX
