THELOGICALINDIAN - Ethereum amount afterwards an upside move faced sellers abreast 1058 adjoin the US Dollar and it looks like ETHUSD is aback beneath a accessory bearish pressure
Ethereum Price Support
We saw bygone how there was a nice upside move in ETH amount adjoin the US Dollar appear $10.60. However, it looks like the amount bootless to authority the bullish trend. There was a attrition abreast $10.58, which pushed the amount down. More importantly, yesterday’s accent abutting attrition trend band on the alternate blueprint of ETH/USD (data augment via SimpleFX) prevented assets abreast $10.56.
The amount started affective down, and bankrupt the aftermost beat low of $10.40 for a low at $10.25. Once afresh the amount recovered, but there was a bearish trend band that acted as a resistance. The amount is once afresh affective down. It already bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $10.25 low to $10.52 high. It may abide to move down. However, there is a abutment arresting at 100 the alternate simple affective boilerplate at $10.35.
Moreover, the 61.8% Fib retracement akin of the aftermost beachcomber from the $10.25 low to $10.52 aerial is additionally at $10.35. So, we may attestant a animation in ETH/USD from the $10.35 support. If it fails to hold, again a retest of the aftermost beat low $10.25 is possible.
Hourly MACD – The MACD is attempting to move aback in the bearish zone.
Hourly RSI – The RSI is aloof beneath the 50 level, and signaling caution.
Major Support Level – $10.35
Major Resistance Level – $10.50
Charts address – SimpleFX
