THELOGICALINDIAN - Key Highlights
Ethereum amount is in a bullish trend adjoin the US Dollar and Bitcoin. ETH/USD’s dips charcoal accurate on the downside at $1040 and $1020.
Ethereum Price Support
There was a appropriate rise in ETH amount aloft the $1050 akin adjoin the US Dollar. The amount traded as aerial as $1089 from breadth a downside alteration was initiated. It bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $947 low to $1089 high. There was alike a breach beneath the $1050 abutment area, but the downside move begin abutment at $1010.
The 50% Fib retracement akin of the aftermost beachcomber from the $947 low to $1089 aerial acted as a aloft support. Moreover, there is a bullish trend band basic with accepted abutment at $1040 on the alternate blueprint of ETH/USD. The brace additionally backward aloft the $1000 abutment and the 100 alternate simple affective average. It recovered after and is currently trading aloft the $1050 level. As continued as the trend band abutment at $1040 is intact, the amount may continue to rise in the abreast term.
A downside breach beneath $1040 could advance the amount appear the 76.4% Fib retracement akin of the aftermost beachcomber from the $947 low to $1089 high. On the upside, the amount will best acceptable retest the $1089 high. Above $1089, the amount may alike analysis the $1110 resistance.
Hourly MACD – The MACD is boring affective in the bullish zone.
Hourly RSI – The RSI is currently aloof aloft the 50 akin with no bearish sign.
Major Support Level – $1040
Major Resistance Level – $1090
Charts address – SimpleFX
