THELOGICALINDIAN - Ethereum amount managed to pop aloft the 5240 attrition and the contempo ETHUSD bullish run looks absolute for added upsides in the abreast term
Ethereum Price Support
There was a tiny downside move in ETH amount appear $51.80 adjoin the US Dollar area it begin support. Later, the amount moved higher, and bankrupt the 76.4% Fib retracement akin of the aftermost abatement from the $52.45 aerial to $47.45 low. It opened the doors for added assets aloft $52.40. The amount bankrupt the $52.40 attrition and traded appear the $54.00 handle. The amount about activated the 1.236 addendum of the aftermost abatement from the $52.45 aerial to $47.45 low.
At the moment, the amount is disturbing to bright the $53.60 resistance, and may move bottomward a few points. On the downside, there are two bullish trend curve with abutment at $52.80 and $51.80 on the alternate blueprint ETH/USD. The aboriginal trend band abutment coincides with the 23.6% Fib retracement akin of the aftermost beachcomber from the $50.60 low to $53.60 high.
However, the best important support is now at $52.40. The declared akin was a attrition earlier, and now may accommodate abutment at $52.40-50. It additionally coincides with the 38.2% Fib retracement akin of the aftermost beachcomber from the $50.60 low to $53.60 high. Overall, if the amount dips from the accepted levels, it may acquisition abutment at $52.80 or $52.40.
Hourly MACD – The MACD is placed able-bodied in the bullish zone.
Hourly RSI – The RSI is about the 71 level, and looks stable.
Major Support Level – $52.80
Major Resistance Level – $53.60
Charts address – SimpleFX
