THELOGICALINDIAN - Ethereum amount looks like begin barriers on the upside adjoin the US Dollar and Bitcoin ETHUSD bankrupt a abutment breadth at 1020 and currently trading lower
Ethereum Price Downside
We saw afresh an upside surged in ETH amount adjoin the US Dollar, as it traded above the $11.00 handle. However, the amount after begin sellers abreast $11.40, and started acclimation lower. During the downside move the amount initially bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $9.13 low to $11.40 high. Later, it connected to barter lower and bankrupt added supports as well.
The best important was a abutting beneath yesterday’s accent abutting bullish trend band on the alternate blueprint (data augment via SimpleFX) of ETH/USD. Moreover, the amount additionally traded beneath the aftermost beat low of $9.13 to barter as low as $9.09. It is currently affective aback higher, but found sellers abreast the 50% Fib retracement akin of the aftermost bead from the $11.41 aerial to $9.09 low. There are affairs that the amount may already afresh arch lower, and barter appear the aftermost beat low of $9.10.
Overall, it looks like the amount has fabricated a concise top, and may move down. The best important abutment is about the 100 alternate simple affective average, which is positioned abreast $9.00. As continued as the amount stays aloft it, there is a achievability of a animation back.
Hourly MACD – The MACD is now aback in the bearish zone, but slowing abbreviation slope.
Hourly RSI – The RSI has bankrupt beneath the 50 level, which is a abrogating sign.
Major Support Level – $9.10
Major Resistance Level – $10.25
Charts address – SimpleFX
