THELOGICALINDIAN - Ethereum amount beneath added during the accomplished 24 hours to barter as low as 1097 area the ETHUSD buyers managed to assure the downside
Ethereum Price Downside Move
ETH amount continued to move down against the US Dollar, and alike traded beneath the $11.50 abutment breadth to analysis the $11.00 handle. Yesterday, there was a accessory accretion in ETH/USD, but the bearish trend band on the alternate blueprint (data augment via SimpleFX) of ETH/USD prevented the upside move and pushed the amount down. The 23.6% Fib retracement akin of the aftermost leg from the $12.20 aerial to $11.70 low additionally acted as a barrier for the buyers.
As a result, there was a aciculate decline, demography the amount appear the $10.97 level. The amount is currently recovering, and confused aloft the 38.2% Fib retracement akin of the aftermost leg from the $11.86 aerial to $10.97 low. However, there are abounding resistances on the upside, cat-and-mouse to prevent any gains. The aboriginal one is about the 50% % Fib retracement akin of the aftermost leg from the $11.86 aerial to $10.97 low. The best important one is abreast a new bearish trend band on the aforementioned chart.
There is a adventitious of the amount affective added higher, but may face sellers abreast $11.60. It was a abutment beforehand and may now act as a resistance.
Hourly MACD – The MACD is placed in the bearish area with a slight change in momentum.
Hourly RSI – The RSI is currently attempting to bright the 50 level, but may abort soon.
Major Support Level – $11.10
Major Resistance Level – $11.60
Charts address – SimpleFX
