THELOGICALINDIAN - Ethereum amount started a downside move already afresh afterwards declining to abutting aloft 1100 Can ETHUSD abide branch lower
Ethereum Price Trend Line Support
ETH amount started addition beachcomber higher bygone adjoin the US Dollar, and traded aloft the 50% Fib retracement akin of the aftermost abatement from the $11.35 aerial to $10.23 low. However, it looks like it begin sellers aloft $11.00. It bootless to accomplish a acknowledged abutting aloft the $11.00, which resulted in a decline. The brace during the downside move bankrupt a brace of important abutment levels.
First, we charge to accept that the amount bootless abreast the 76.4% Fib retracement akin of the aftermost abatement from the $11.35 aerial to $10.23 low. Second, there was a abatement beneath the 100 alternate simple affective average. Third, the amount fabricated a college low, which is a arresting that the amount may make a new low beneath $10.20. Third, the amount additionally bankrupt beneath the $10.80 abutment level.
There are a few positives as well. Like, there is a accessory bullish trend band formed on the alternate blueprint (data augment via SimpleFX) of ETH/USD. And, I anticipate as continued as the amount is aloft it, ETH may bounce, abroad there can be added losses.
Hourly MACD – The MACD may change the abruptness from the bearish to bullish area soon.
Hourly RSI – The RSI is aloof beneath the 50 level, which is a bearish sign.
Major Support Level – $10.50
Major Resistance Level – $11.00
Charts address – SimpleFX
