THELOGICALINDIAN - Ethereum amount may barter bottomward if the ETHUSD beasts abort already afresh to booty it abutting to the 1500 akin affective ahead
Ethereum Price to Weaken?
Ethereum amount ETH bygone attempted to barter higher, but bootless to abreast the $14.40 akin vs the US Dollar. I was acquisitive it to analysis at atomic the aftermost beat aerial of $14.80. However, the ETH sellers had a altered idea, as they managed to outdistance the beasts and took the amount down. Yesterday’s accent bullish trend band on the alternate blueprint (data augment via Kraken) of ETH/USD was breached to burn a downside move.
The best important point is that the amount has now registered two failures about the $14.50 level, which is a admonishing to the beasts that a top may be in place. However, there are abounding abutment levels on the downside for the price, which may act as a hurdle for sellers if it moves bottomward from the accepted levels.
If the amount moves higher, again an antecedent attrition is about the 38.2% Fib retracement akin of the aftermost bead from the $14.40 aerial to $13.07 low. However, the best important attrition is abreast the 100 alternate simple affective average, which is sitting forth with the 50% Fib retracement akin of the aforementioned drop. One may alike accede affairs abreast it with a stop aloft the 100 alternate SMA.
Hourly MACD – The MACD is in the bearish zone, which is a abrogating sign.
Hourly RSI – The RSI is beneath the 50 level, calling for added weakness in the abreast term.
Intraday Support Level – $13.10
Intraday Resistance Level – $14.00
Charts address of Kraken via Trading View
Header Image via NewsBTC
