THELOGICALINDIAN - Ethereum amount remained in an uptrend this accomplished anniversary adjoin the US Dollar and Bitcoin and ETHUSD may abide to barter higher
Ethereum Price Upside Move
There was a slow and abiding increase in Ehereum amount adjoin the US Dollar, as the amount confused accomplished the $9.60 attrition area. Later, the amount additionally confused aloft the $10.00 level, which is a absolute sign. Moreover, there was additionally a bearish trend band formed on the circadian blueprint (data augment via SimpleFX) of ETH/USD. It was additionally burst during the upside move beforehand this month, which opened the gates for added gains.
The best allotment was the abutting aloft the 100-day simple affective average. It is an auspicious sign, which agency the amount is able-bodied positioned aloft $10.00. The amount afresh confused bottomward beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $6.87 low to $11.41 aerial to burn a downside move. However, the amount after found support abreast the 50% Fib retracement akin of the aftermost beachcomber from the $6.87 low to $11.41 high.
The amount is now affective aback higher, and currently trading aloft $10.00, which is a absolute sign. It may lift the brace added and could booty it aloft $11.00. Let us see how the amount trades in the accessible week, and whether it trades appear $12.00 or not.
Daily MACD – The MACD is still in the bullish zone, which is a acceptable sign.
Daily RSI – The RSI is able-bodied aloft the 50 level, calling for added gains.
Major Support Level – $10.00
Major Resistance Level – $11.00
Charts address – SimpleFX
