THELOGICALINDIAN - Ethereum amount attempted a breach bygone but bootless It looks like ETHUSD bears may footfall in to booty the amount appear 900
Ethereum Price – Downside Reaction?
Ethereum amount ETH traded aloft the 100 alternate simple affective average for some time, but bootless to accretion traction. As a result, the amount confused down, and there was alike a abutting beneath the 100 alternate SMA. I accent a bearish trend band formed on the alternate blueprint (data augment via Kraken) of ETH/USD yesterday, and was acquisitive for a break.
However, the ETH beasts bootless to breach the trend band resistance, and the amount confused down. Now, back there is an alternate abutting beneath the 100 SMA, it increases the adventitious of ETH/USD affective bottomward a few credibility in the abbreviate term. Please note, I am not adage it will abatement and decline heavily. I beggarly there may be a move bottomward appear $9.00 if the amount charcoal beneath a bearish pressure, as there was a abortion abreast the 61.8% Fibonacci retracement akin of the aftermost bead from the $10.40 aerial to $8.40.
If you are attractive to sell, afresh accede it as continued as the amount is beneath the 100 alternate SMA. A abutting aback aloft it may afresh put ETH on a bullish path.
Hourly MACD – The MACD ability change the abruptness to the bullish area, but there is a no above assurance yet.
Hourly RSI – The RSI is beneath the 50 level, which is a bearish assurance in the abbreviate term.
Intraday Support Level – $9.00
Intraday Resistance Level – $9.50
Charts address of Kraken via Trading View
Header Image: NewsBTC
