THELOGICALINDIAN - Ethereum amount managed to animation aback from the 1606 low adjoin the US Dollar Now can ETHUSD extend the accepted accretion in the abreast term
Ethereum Price Upside Move
There was a solid downside move in ETH amount appear $16.05 vs the US Dollar yesterday. The amount after managed to break accurate abreast $16.06 and started a recovery. The upside move was such that the amount managed to bright the $16.70 resistance. It aboriginal absurd the 38.2% Fib retracement akin of the aftermost bead from the $19.10 aerial to $16.06 low. It opened the doors for an upside move aloft $17.20.
Later, the amount additionally bankrupt yesterday’s accent bearish trend band on the alternate blueprint (ETH/USD, abstracts augment via SimpleFX) at $17.30. This was a absolute sign, and agency that the amount managed to affected a lot of affairs pressure. At the moment, the amount is struggling to breach the 50% Fib retracement akin of the aftermost bead from the $19.10 aerial to $16.06 low at $17.57. It needs to bright the aforementioned for added gains.
Furthermore, there is a new abutting bearish trend band formed with attrition at $17.65. So, it looks like the amount is currently beneath an boilerplate attrition about $17.65. On the upside, the abutting hurdle is abreast the 100 alternate simple affective boilerplate at $18.25. On the downside, the amount may acquisition abutment abreast $17.20, which was a attrition earlier.
Hourly MACD – The MACD has aloof confused into the bullish zone.
Hourly RSI – The RSI has recovered well, and now aloft the 50 level.
Major Support Level – $17.20
Major Resistance Level – $17.65
Charts address – SimpleFX
