THELOGICALINDIAN - Ethereum amount connected to barter lower adjoin the US Dollar and Bitcoin and it looks like ETHUSD may abide to face sellers as continued as it is beneath 300
Ethereum Price Resistance
It looks like a major alteration wave is accomplished for ETH amount as it bankrupt beneath $300 adjoin the US Dollar. The amount attempted a accessory accretion from a aloft abutment breadth abreast $288. However, it bootless to accretion momentum, and faced sellers abreast $325-330. It additionally bootless to abutting aloft the 50% Fib retracement akin of the aftermost abatement from the $365 aerial to $288 low.
As a result, the amount resumed its declivity and traded beneath a aloft abutment at $288. It afire added declines and the amount traded as low as $250. It is currently convalescent and confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $328 aerial to $250 low. However, there are abounding hurdles on the way up like the $280-288 resistance. There is additionally a monster bearish trend line formed with attrition at $289 on the alternate blueprint of ETH/USD.
Furthermore, the 50% Fib retracement akin of the aftermost abatement from the $328 aerial to $250 low is additionally about the $288 resistance. So, if the amount continues higher, it ability abort abreast $288-290 and barter lower already again.
Hourly MACD – The MACD is placed heavily in the bearish zone.
Hourly RSI – The RSI is attempting to breach the 50 level, but struggling.
Major Support Level – $250
Major Resistance Level – $288
Charts address – SimpleFX
