THELOGICALINDIAN - Ethereum amount faced a lot of sellers afresh adjoin the US Dollar and Bitcoin ETHUSD needs to breach the 980 and 985 attrition levels to accretion upside momentum
Ethereum Price Resistance
There was a short-term recovery accomplished in ETH amount from the $904 beat low adjoin the US Dollar. The amount traded aloft the $950 and $960 attrition levels, but it bootless to absorb the bullish momentum. There was a breach aloft the 50% Fib retracement akin of the aftermost bead from the $1071 aerial to $896 low. However, the upside move faced a able attrition at $1000-1005.
A beginning downside beachcomber was accomplished from the $1009 high. ETH bootless to move aloft the 61.8% Fib retracement akin of the aftermost bead from the $1071 aerial to $896 low, which is a abrogating sign. More importantly, yesterday’s accent key bearish trend band with accepted attrition at $980 is still alive on the alternate blueprint of ETH/USD. The brace is currently affective lower and is trading beneath the $975 level. It seems like the trend band resistance at $980 may abide to act as a above hurdle for buyers.
If buyers accomplish in blame the amount aloft $980, there is a adventitious of added assets aloft $1005 in the abreast term. On the downsides, the $910 akin is an antecedent abutment followed by the aftermost low of $896.
Hourly MACD – The MACD is boring accepting clip in the bearish zone.
Hourly RSI – The RSI is currently disturbing to move aloft the 50 level.
Major Support Level – $910
Major Resistance Level – $980
Charts address – SimpleFX
