THELOGICALINDIAN - Ethereum amount fabricated a appropriate upside move adjoin the US Dollar and Bitcoin and now ETHUSD ability breach 275 for added gains
Ethereum Price Trend Line Support
Recently, we saw a few beat moves in ETH amount appear $240 adjoin the US Dollar. Later, the amount begin abutment and started affective college aloft $250. The upside move was appropriate as there was a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $316 aerial to $239 low. Moreover, the amount was able to accretion drive aloft the $260 resistance.
During the upside move, the ETH/USD brace additionally bankrupt a bearish trend band with attrition at $265 on the alternate chart. However, assets were prevented by $280 and the 100 alternate simple affective average. Furthermore, there was additionally no abutting aloft the 50% Fib retracement akin of the aftermost abatement from the $316 aerial to $239 low. The amount is currently acclimation lower, but charcoal accurate aloft $240.
There is additionally a bullish trend band formed on the aforementioned blueprint with abutment at $265. There is a adventitious that the brace may actual a few credibility lower appear $250-260. However, it is acceptable to accretion clip aloft $280 and the 100 alternate simple affective boilerplate for added gains. The abutting attrition is abreast the 76.4% Fib retracement akin of the aftermost abatement from the $316 aerial to $239 low at $298.
Hourly MACD – The MACD is aback in the bullish zone.
Hourly RSI – The RSI is now aloft the 50 level.
Major Support Level – $265
Major Resistance Level – $280
Charts address – SimpleFX
