THELOGICALINDIAN - Ethereum amount bounced acutely adjoin the US Dollar and Bitcoin and now ETHUSD is attractive to accretion drive to abutting aloft 275
Ethereum Price Bounced Sharply
Yesterday, there was an attempt to move aloft $260 in ETH amount adjoin the US Dollar. However, the amount bootless to accretion drive and confused aback beneath $240. It bootless to breach the 50% Fib retracement akin of the aftermost abatement from the $312 aerial to $204 low and confused down. The downside move was such that the aftermost beat low of $204 was tested. The amount alike bankrupt it for a new accessory low of $202. On the absolute side, sellers bootless to booty the amount beneath $202.
As a result, there was a able animation and the amount confused aloft $220. There was a abutting aloft the 38.2% Fib retracement akin of the aftermost abatement from the $310 aerial to $202 low. However, the upside move was prevented by $275 and the 100 alternate simple affective average. Moreover, there was no abutting aloft the 61.8% Fib retracement akin of the last decline from the $310 aerial to $202 low. ETH needs to abutting aloft the trend curve and the $270 attrition if buyers accept to accretion momentum.
If they abort already again, there is a adventitious of a downside move aback appear $220. Below it, the amount may retest the aftermost beat low at $202.
Hourly MACD – The MACD is aback in the bullish zone.
Hourly RSI – The RSI is aloft the 50 level, but branch lower.
Major Support Level – $220
Major Resistance Level – $270
Charts address – SimpleFX
