THELOGICALINDIAN - Ethereum amount rocketed aloft the 1700 handle adjoin the US Dollar and it looks the ETHUSD is acerb bullish and charcoal buy on dips
Ethereum Price Buy Zone?
Our idea of affairs dips in ETH amount formed afresh vs the US Dollar, as afterwards a dip appear $15.30 the amount confused higher. The amount surged higher, and managed to breach a monster attrition breadth at $15.80. It was a acceptable aperture for the bulls, as the amount confused accomplished the $17.00 handle as well. The best important point was that a above abutting bullish trend band at $16.10 is intact.
During the upside, there was a breach aloft a acute attrition trend band at $16.32 on the alternate blueprint of ETH/USD (data augment via SimpleFX). It is a bright assurance that the amount may abide to acceleration and ability anon breach the contempo aerial of $17.36 for added gains. The next stop on the upside could be abreast $17.88. On the downside, an antecedent abutment and buy area is at 23.6% Fib retracement akin of the aftermost beachcomber from the $14.64 low to $17.36 high.
However, the best important abutment is abreast the burst attrition trend band at $16.32. It additionally coincides with the 38.2% Fib retracement akin of the aftermost beachcomber from the $14.64 low to $17.36 high. So, one may accede affairs with a stop beneath $16.00.
Hourly MACD – The MACD is cool bullish, calling for added gains.
Hourly RSI – The RSI is able-bodied into the overbought levels.
Major Support Level – $16.70
Major Resistance Level – $17.40
Charts address – SimpleFX
