THELOGICALINDIAN - Ethereum amount traded aloft the 1100 handle vs the USD and it looks like there are added upsides larboard in ETHUSD in the abreast term
Ethereum Price – Buying Dips?
Ethereum amount ETH as mentioned bounced during the accomplished brace of sessions vs the US Dollar and traded aloft the $11.00 level. There was a lot of affairs absorption acclaimed for ETH, which may abide in the abreast term. Yesterday, I accent a bullish trend line on the alternate blueprint (data augment via Kraken) of ETH/USD. It played able-bodied and helped the beasts to accretion bids.
As anon as the amount acclimatized aloft the 100 alternate simple affective average, there was a aciculate upside move. Affective ahead, there are abounding signs on the alternate MACD and RSI of a alteration in the abbreviate term. So, the amount may move bottomward a few credibility afore it can abide trading higher. On the downside, an actual support lies at 23.6% Fib retracement akin of the aftermost beachcomber from the $10.00 low to $11.40 high.
However, if the alteration is extended, again a move appear the 50% Fib retracement akin of the aftermost beachcomber from the $10.00 low to $11.40 aerial is additionally possible, which can act as a above abutment breadth for ETH/USD.
Hourly MACD – The MACD is in the about to change the abruptness to bearish, calling for a correction.
Hourly RSI – The RSI is about the overbought levels, which agency there is a adventitious of it affective down.
Intraday Support Level – $11.00
Intraday Resistance Level – $11.40
Charts address of Kraken via Trading View
Image: NewsBTC
