THELOGICALINDIAN - Ethereum amount is beneath abundant affairs burden adjoin the US Dollar and Bitcoin ETHUSD ability abatement added and could alike analysis 210
Ethereum Price Resistance and Upside Hurdles
There were further declines in ETH amount as it confused beneath the $260 and $250 abutment levels adjoin the US Dollar. Yesterday, there was a accessory alteration from the $260 akin appear $280. However, the upside move was capped and buyers bootless to breach the $280 attrition area. The amount beneath and traded beneath $260 to anatomy a new account low. The abatement was such that the amount alike bootless to authority the $240-230 abutment breadth and traded to a new low at $221.42.
At the moment, the amount is acclimation from $221. It confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $281.31 aerial to $221.42 low. However, there is a monster bearish trend band basic with attrition at $248 on the alternate blueprint of ETH/USD. The trend band attrition is additionally abreast the 38.2% Fib retracement akin of the aftermost abatement from the $281.31 aerial to $221.42 low. Therefore, a breach aloft the trend band resistance at $250 won’t be easy.
If the accepted bearish burden charcoal intact, there is a adventitious of a breach beneath $220. The amount ability alike analysis the $210-200 abutment area area sellers could struggle.
Hourly MACD – The MACD is acerb placed in the bearish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 50 akin and assuming bearish signs.
Major Support Level – $220
Major Resistance Level – $260
Charts address – SimpleFX
