THELOGICALINDIAN - Ethereum amount surged college appear 58 adjoin the US Dollar and now ETHUSD is advancing for a alteration appear the 5655 levels
Ethereum Price Upside Ride
Finally, there was a break aloft the $53.60 resistance in ETH amount adjoin the US Dollar. The amount acquired a lot of strength, and was able to breach the $54.50 attrition area. It opened the doors for a awful move up, as the amount bankrupt the $56 and $57 attrition levels. A new account aerial was formed at $58.08 area the amount faced attrition and started a downside move.
It looks like a alteration is initiated, as the amount has now confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $53.22 low to $58.08 high. The best important move was beneath a concise bullish trend band with abutment at $57.30 on the alternate blueprint of ETH/USD. It has opened the doors for an continued alteration appear $56. The next support could be abreast the 38.2% Fib retracement akin of the aftermost beachcomber from the $53.22 low to $58.08 high.
Let us see how the amount trades in the abreast appellation if it tests $56. Any added declines may alarm for a complete analysis of the 50% Fib retracement akin of the aftermost beachcomber from the $53.22 low to $58.08 aerial area buyers ability appear.
Hourly MACD – The MACD is acerb in the bullish zone.
Hourly RSI – The RSI is acclimation from the overbought levels.
Major Support Level – $56.00
Major Resistance Level – $58.00
Charts address – SimpleFX
