THELOGICALINDIAN - Ethereum amount remained in the bullish area adjoin the US Dollar and Bitcoin and ETHUSD is now already afresh advancing for the abutting move
Ethereum Price Resistance
There were a few moves in ETH amount as it biconcave beneath the $90 akin adjoin the US Dollar. We can say that the amount started a alteration from the $100 beat aerial appear the $85.00 level. A low was formed abreast $84.60 from area a accretion was started. The amount confused higher, and traded aloft the 23.6% Fib retracement akin of the aftermost abatement from the $100.60 aerial to $84.60 low. There was a abutting bullish trend band at $85, which prevented added losses and pushed the amount higher.
The amount is now aback aloft the 50% Fib retracement akin of the aftermost abatement from the $100.60 high to $84.60 low. It may abide to barter higher. However, there is a aloft abutting bearish trend band with attrition at $96.80 formed on the alternate blueprint of ETH/USD. It may act as a hurdle and anticipate assets aloft $96.
The aforementioned trend band additionally coincides with the 76.4% Fib retracement akin of the aftermost abatement from the $100.60 aerial to $84.60 low. So, there can be a accessory dip in ETH amount afore it makes addition upside move aloft $96.
Hourly MACD – The MACD is aloof affective from the bearish to bullish zone.
Hourly RSI – The RSI is currently affective higher, and attempting to achieve aloft the 50 level.
Major Support Level – $92
Major Resistance Level – $96
Charts address – SimpleFX
