THELOGICALINDIAN - Ethereum amount bootless to authority assets aloft 53 adjoin the US Dollar and ETHUSD is now positioned for a move appear 49
Ethereum Price Decline
It looks like ETH amount struggled to bright the $53.50 attrition breadth adjoin the US Dollar. The amount bootless to authority the $53 and $52 abutment levels, and started affective lower. Initially, there was a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $47.50 low to $53.48 high. It prompted added declines, and the amount confused beneath $51.50.
The best important breach was beneath yesterday’s accent new bullish trend band with abutment at $51.08 on the alternate blueprint (ETH/USD, abstracts augment via SimpleFX). At the moment, the amount is attempting a abutting beneath the 100 alternate simple affective boilerplate at $50.45. Moreover, the amount is about beneath the 50% Fib retracement akin of the aftermost beachcomber from the $47.45 low to $53.486 high. Once the amount closes beneath $50.40, there can be a downside move appear $50.
Looking at the accepted trend, it looks like the amount ability alike breach $50 for a move appear the aftermost beat low of $48.00. An average abutment is at $48.89, which is the 0.764 Fib akin of the aftermost move up from the $47.45 low to $53.486 high. On the upside, the burst abutment at $51.10 and $51.50 ability act as a attrition if the amount corrects higher.
Hourly MACD – The MACD is extending moves in the bearish zone.
Hourly RSI – The RSI is now able-bodied beneath the 50 level, and branch lower.
Major Support Level – $48.00
Major Resistance Level – $51.50
Charts address – SimpleFX
