THELOGICALINDIAN - Ethereum amount started a downside alteration adjoin the US Dollar and Bitcoin and now ETHUSD is accumulation beneath the 300 handle
Ethereum Price Support
Yesterday, we saw a new account high abreast $313.62 in ETH amount adjoin the US Dollar. Later, the amount started a downside move and traded beneath the $310 and $300 levels. There was alike a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $265.50 low to $313.62 high. The amount beneath appear $270 and traded as low as $277.41 area it begin support.
During the downside move, there was a breach beneath a bullish trend band with accepted abutment at $290 on the alternate blueprint of ETH/USD. It seems like it was a apocryphal breach beneath the $285 level. The brace is currently aback aloft the bullish trend line, but disturbing to move aloft the $300 level. It afresh traded abutting to the 61.8% Fib retracement akin of the aftermost abatement from the $313.62 aerial to $277.41.
However, a abutting bearish trend band prevented assets aloft $300. The amount is affective aback lower and may retest the bullish trend line at $290. It charge authority the trend band abutment and $290, it ETH/USD has to resume its upside move in the abreast term. A abutting beneath $290 would alarm for a retest of the aftermost low of $277.
Hourly MACD – The MACD has bargain all of its bullish slope.
Hourly RSI – The RSI is currently aloof aloft the 50 level.
Major Support Level – $290
Major Resistance Level – $300
Charts address – SimpleFX
