THELOGICALINDIAN - Ethereum amount is attractive abrogating for today If the trend band attrition holds ETHUSD may move bottomward and barter abreast 825
Ethereum Price – Sell Near Trend Line
Ethereum amount ETH managed to move higher already afresh yesterday, but faced offers abreast the $9.10-20 attrition area. Yesterday, I accent a bearish trend band on the alternate blueprint (data augment via Kraken) of ETH/USD, and appropriate a buy if the amount moves aloft it. There was no upside break, but on the added hand, the amount confused bottomward afterwards testing trend band resistance.
The best important point is that ETH bootless abreast the 50% Fib retracement akin of the aftermost bead from the $10.00 aerial to $8.50 low. So, we can say that a alteration beachcomber is now over and there is a adventitious of a new low beneath the $8.50 level, which can be abreast $8.25. The amount is now beneath the 100 alternate simple affective average, which is a bearish assurance in the abbreviate term.
One may accede affairs abreast the trend band attrition breadth with a ambition of $8.50 and again $8.25. A stop in the declared case may be an alternate abutting aloft the 100 SMA or aloft the accent trend line.
Hourly MACD – The MACD is acerb placed in the bearish area, which is calling for added losses.
Hourly RSI – The RSI is beneath the 50 level, which is assurance that ETH buyers are disturbing to accretion to accretion momentum.
Intraday Support Level – $8.50
Intraday Resistance Level – $9.00
Charts address of Kraken via Trading View
