THELOGICALINDIAN - Ethereum amount is already afresh accepting bids adjoin the US Dollar and Bitcoin ETHUSD ability anon attack an upside breach aloft 309
Ethereum Price Resistance
The accomplished two sessions were mostly alignment aloft $301 in ETH amount adjoin the US Dollar. Yesterday, afterwards a decent upside move appear $309, the amount started a downside correction. It confused bottomward and traded beneath the 23.6% Fib retracement akin of the aftermost leg up from the $290.98 low to $309.00 high. However, the downside move was adequate by the $301-302 abutment levels.
Moreover, yesterday’s accent concise bullish trend band with accepted abutment at $304 additionally provided abutment on the alternate blueprint of ETH/USD. It acted as a appropriate buy area abreast $302 and prevented added downsides. Besides, the 38.2% Fib retracement akin of the aftermost leg up from the $290.98 low to $309.00 aerial additionally acted as a support. The brace is already afresh affective college and already trading aloft $304. However, it faces a monster resistance abreast $309. The declared $309 akin prevented added assets on abounding occasions and it ability abide to act as a hurdle.
A able abutting aloft $309 is bare for buyers to booty the amount aloft $320 or alike higher. On the downside, the trend band abutment at $304 is a key buy zone. A breach of the $304 abutment would accessible the doors for added slides appear $297.
Hourly MACD – The MACD is still in the bullish zone.
Hourly RSI – The RSI is aloft the 50 akin and affective higher.
Major Support Level – $304
Major Resistance Level – $309
Charts address – SimpleFX
