THELOGICALINDIAN - Ethereum amount is currently affective bottomward adjoin the US Dollar and Bitcoin ETHUSD ability retest 300301 afore attempting an upside move
Ethereum Price Downside Move
There was a slight recovery in ETH amount bygone appear the $314 akin adjoin the US Dollar. The amount bootless to accretion absorption aloft $310 and started a downside move. It traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $285.99 low to $314.77 high. However, the downside move seems to be bound because the accepted bent beneath $314.
Buyers appeared about the 38.2% Fib retracement akin of the aftermost beachcomber from the $285.99 low to $314.77 aerial and adequate declines. On the upside, there is a new abutting bearish trend band basic with attrition abreast $308 on the alternate blueprint of ETH/USD. A breach aloft the trend band attrition and the $314 aerial won’t be easy. There is a adventitious that the brace ability dip appear the 50% Fib retracement akin of the last wave from the $285.99 low to $314.77 aerial at $300.38.
The $300-301 abutment breadth holds the key for the accepted accelerate in ETH. As continued as the amount is aloft the $300 level, it should breach the trend band for an upside move. The $314 attrition is now cogent back it is positioned with the 100 alternate simple affective average.
Hourly MACD – The MACD is about collapsed and pointing appear ambit moves in the bearish zone.
Hourly RSI – The RSI is currently aloof beneath the 50 akin and assuming aloof signs.
Major Support Level – $300
Major Resistance Level – $314
Charts address – SimpleFX
