THELOGICALINDIAN - Ethereum amount is acclimation lower adjoin the US Dollar adjoin Bitcoin ETHUSD has to abide aloft 308 in adjustment to animation back
Ethereum Price Support
There was a appropriate upside move in ETH amount aloft the $321 akin adjoin the US Dollar. The amount traded as aerial as $323.49 and boring lost momentum. It started trading lower and confused beneath the $321 support. It bootless about a bearish trend band at $322-323 on the alternate chart. During the downside move, there was a breach beneath a abutting bullish trend band at $320 on the alternate blueprint of ETH/USD. It has austere the aisle for a slight downside move appear $310-308 in the abreast term.
At the moment, the amount is trading abreast the 23.6% Fib retracement akin of the aftermost beachcomber from the $290.52 low to $323.49 high. It seems like the amount ability abide to barter lower and analysis the $308 abutment and 100 alternate simple affective average. The 100 alternate SMA is additionally positioned abreast the 50% Fib retracement akin of the aftermost beachcomber from the $290.52 low to $323.49 high. It seems like downsides would be bound by $304. However, the amount needs to accretion drive aloft $321 to affected any above declines.
A breach aloft the accent bearish trend band with accepted attrition at $319.50 is needed. Buying dips ability be advised as continued as the amount is aloft $304.
Hourly MACD – The MACD is boring affective into the bearish zone.
Hourly RSI – The RSI has breached the 50 akin and could arch south.
Major Support Level – $304
Major Resistance Level – $321
Charts address – SimpleFX
