THELOGICALINDIAN - Ethereum amount is currently accepting bids and attempting a move college It looks like the ETHUSD brace charcoal a acceptable buy on the downside
Ethereum Price Support
ETH amount afresh found support abreast $7.90 adjoin the US Dollar on abounding occasions afore starting an upside move. During the upside move, there was a breach aloft a brace of important attrition levels. First, the amount bankrupt aloft the 23.6% Fib retracement akin of the aftermost abatement from the $8.66 aerial to $7.87 low. Second, there was a breach aloft a concise bearish band formed on the alternate blueprint (data augment via SimpleFX) of ETH/USD.
Third, the amount bankrupt aloft the 100 alternate simple affective average. All these are absolute signs and advance that there is a adventitious of ETH/USD gaining momentum in the abreast term. It is additionally important to agenda that the brace afresh bootless abreast the 50% Fib retracement akin of the aftermost beachcomber from the $7.06 low to $8.68 high. There were added than two attempts to breach the declared level, but sellers failed.
As a result, there was an upside move, demography the amount aloft a brace of acute hurdles. However, the brace needs to accretion momentum, abroad there can be addition dip. In my appearance affairs dips as continued as the amount is aloft $7.90 may be advised in the abbreviate term.
Hourly MACD – The MACD is currently in the bullish slope.
Hourly RSI – The RSI bounced from the 50 level, and branch north.
Major Support Level – $7.90
Major Resistance Level – $8.60
Charts address – SimpleFX
