THELOGICALINDIAN - Ethereum amount started convalescent Intraday adjoin the US Dollar but it looks like the upside may arrest as there is a above attrition about 1350
Ethereum Price Resistance
Ethereum amount ETH afterwards falling abutting to the $11.30 akin adjoin the US Dollar managed to acquisition abutment and started to actual higher. During the upside move, it managed to breach the 23.6% Fib retracement akin of the aftermost bead from the $15.10 aerial to $11.32 low, and traded aloof a few credibility aloft the 38.2% Fib retracement akin of the aforementioned wave.
However, there is a aloft attrition positioned on the upside about the $13.50 levels, as this week’s accent bearish trend band on the alternate blueprint (data augment via Kraken) of ETH/USD is accumbent with the 100 alternate simple affective average. So, it won’t be accessible for the amount to breach the accent attrition breadth on the blueprint and move aloft it.
An antecedent attrition can additionally be about the Fib retracement akin of the aftermost bead from the $15.10 aerial to $11.32 low, which is aloof beneath the 100 alternate SMA. Overall, as continued as the amount is beneath the accent attrition area, one may accede a advertise barter with a stop of a abutting aloft the 100 alternate SMA.
Hourly MACD – The MACD is about to move to the bearish slope, which is a bearish sign.
Hourly RSI – The RSI is aloof about the 50 level, and calling for a breach for the abutting move.
Major Support Level – $12.00
Major Resistance Level – $13.50
Charts address of Kraken via Trading View
