THELOGICALINDIAN - Ethereum amount afterwards a accessory alteration adjoin the US Dollar recovered and now ETHUSD is attractive to claiming the 1580 resistance
Ethereum Price Resistance
In yesterday’s column we saw how buying dips abreast $15.00 remained a acceptable abstraction in ETH amount adjoin the US Dollar. The amount did move bottomward to barter abreast the 38.2% Fib retracement akin of the aftermost beachcomber from the $14.30 low to $15.80 aerial area it begin support. More importantly, the amount begin abutment about $14.80. There was a abutting bullish trend band at $14.80 on the alternate blueprint of ETH/USD (data augment via SimpleFX), which acted as a support.
Currently, it looks like the amount is disturbing to bright the $15.80 resistance. There was addition rejection, blame the brace aback beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $14.64 low to $15.83 high. However, the amount is award bids abreast the 38.2% Fib retracement akin of the aftermost beachcomber from the $14.64 low to $15.83 aerial at $15.35. I anticipate that there is a adventitious of a accessory dip appear $15.20 afore the amount attempts addition upside move.
On the downside, the trend band abutment is now at $15.05. As continued as the amount stays aloft it, there can be addition upside run. A breach beneath it could booty the amount appear $14.50.
Hourly MACD – The MACD is abbreviation the bullish zone, as a allotment of a correction.
Hourly RSI – The RSI is now aback aloft the 50 level, but there is beneath momentum.
Major Support Level – $15.05
Major Resistance Level – $15.80
Charts address – SimpleFX
