THELOGICALINDIAN - Ethereum amount recovered adjoin the US Dollar intraday but it charcoal at a accident of added losses as continued as it is beneath the 100 alternate SMA
Ethereum Price Sell?
Yesterday, I accent a couple of trend curve and resistances, and mentioned that the amount may attempt to bright them in the abreast term. There was no acquittal for the ETH/USD pair, as it remained beneath resistances and boring started cutting lower. The best important point is that the amount bootless to abutting aloft the 100 alternate simple affective average, which is a above barrier for the ETH bulls.
Currently, there is a bearish trend band formed on the alternate blueprint (data augment via Kraken) of ETH/USD, which is acting as a hurdle for added assets and blame the amount down. The brace traded abutting to the highlighted trend line on a brace of occasions, but bootless to breach it.
At this moment, the amount is trading abreast the 38.2% Fib retracement akin of the aftermost leg from the $8.88 low to $1076 high. A breach and abutting beneath it could booty the amount appear the 50% Fib akin of the aforementioned wave. I anticipate affairs charcoal a adopted advantage with a stop aloft the trend band resistance.
Hourly MACD – The MACD is in the bearish zone, and calling for added losses.
Hourly RSI – The RSI aloof drifted beneath the 50 level, suggesting the bears are aback to booty the amount down.
Major Support Level – $10.00
Major Resistance Level – $10.60
Charts address – SimpleFX
