THELOGICALINDIAN - Ethereum amount beneath acutely adjoin the US Dollar and Bitcoin and now it seems like a accretion in ETHUSD aloft 300 wont be easy
Ethereum Price Resistance
There was an access in selling pressure on ETH price, demography it beneath the $280 akin adjoin the US Dollar. The amount attempted a move aloft the $308 akin and the 100 alternate simple affective average. However, it bootless to achieve aloft $308 and started a downside move. Later, sellers acquired clip and the amount beneath beneath a key abutment breadth of $287. It opened the doors for added losses and the amount confused beneath $280.
There was a new account low formed at $269.00 from area a accessory accretion is initiated. The amount confused aloft the 38.2% Fib retracement akin of the aftermost abatement from the $305.79 aerial to $269.00 low. However, it bootless to move aloft $287. The burst abutment at $287 is acting as a resistance. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $305.79 aerial to $269.00 low is additionally abreast $287. Lastly, yesterday’s accent abutting bearish trend line with accepted attrition at $287.00 on the alternate blueprint of ETH/USD is additionally a acute hurdle.
Overall, it seems like the $287-290 area is a above attrition area for ETH. The amount may anon resume its downside move and barter aback appear the $270 level.
Hourly MACD – The MACD is abbreviation its bearish slope, but still in the abrogating zone.
Hourly RSI – The RSI is disturbing to move aback aloft the 50 level.
Major Support Level – $270
Major Resistance Level – $287
Charts address – SimpleFX
