THELOGICALINDIAN - Ethereum amount attempted a accessory animation adjoin the US Dollar but bootless It looks like the ETHUSD may abide to abide in ascendancy today
Ethereum Price Downsides
ETH amount remained beneath a lot of bearish pressure bygone adjoin the US Dollar. There was a accessory attack to recover, but the ETH bears were acknowledged in arresting the upside move and pushed the amount down. During the downside move, the amount additionally bankrupt the 61.8% Fib retracement akin of the beachcomber from the $10.24 low to $11.08 high. It opened the doors for added losses, and may advance the amount added lower.
Yesterday, I accent a brace of trend curve on the alternate blueprint (data augment via SimpleFX) of ETH/USD. They acted as a resistance, and may abide to stop the upside move. The price boring grinded lower, and additionally acclimatized beneath the $10.75 abutment area, which after acted as a attrition area. The amount is currently trading abreast the $10.60 abutment area, and may actual a few credibility higher. However, the upside move may be dedicated abreast the 23.6% Fib retracement akin of the abatement from the $11.09 aerial to $10.59 low.
Moreover, the aforementioned bearish trend curve on the alternate blueprint may additionally abide to act as a resistance. One may accede affairs in the abbreviate appellation abreast it with a bound stop.
Hourly MACD – The MACD is currently in the bearish area with no above assurance of a recovery.
Hourly RSI – The RSI is beneath the 50 level, and pointing south.
Major Support Level – $10.60
Major Resistance Level – $10.75
Charts address – SimpleFX
