THELOGICALINDIAN - Ethereum amount charcoal accurate adjoin the US Dollar aloft 49 and now ETHUSD looks for yet addition breach for the abutting move
Ethereum Price Trend Line Support
It was a acceptable affair so far for ETH price, as it maintained bid tone aloft $50.10 adjoin the US Dollar. The amount traded college from the $47.90 low and managed to move aloft the $50 handle. Earlier, there was a abatement or we can say a alteration was accomplished from the $53.69 high. There was a 5-wave arrangement (not a absolute one) with a breach of the $50 handle. During the downside move, the amount bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $42.15 low to $53.69 high.
It afire added declines, and the amount confused beneath $50. However, the 50% Fib retracement akin of the aftermost beachcomber from the $42.15 low to $53.69 aerial acted as a support. It prevented added losses on two occasions abreast $47.90. The amount assuredly confused college and currently trading aloft the $50 handle. On the downside, there is a nice bullish trend band with support at $50.05 formed on the alternate blueprint (ETH/USD, abstracts augment via SimpleFX). Similarly, on the upside, there is a attrition in the anatomy of a abutting trend band $51.
So, we can say that the amount is aloft $50 abutment and beneath $51 resistance. It ability anon access a breach with affairs of a move appear $53 in the abbreviate term.
Hourly MACD – The MACD is afresh affective hardly in the bullish zone.
Hourly RSI – The RSI is aloof captivation the 50 level.
Major Support Level – $50.00
Major Resistance Level – $51.00
Charts address – SimpleFX
