THELOGICALINDIAN - Ethereum amount already afresh started to move college as the trend band abutment acted as a barrier for the ETH sellers and prevented the downside move
Ethereum Price Buy
Ethereum amount ETH afterwards acclimation lower adjoin the US Dollar begin buyers one added time, and started to move higher. There was a nice acknowledgment about yesterday’s accent bullish trend band on the alternate blueprint (data augment via Kraken) of ETH/USD, which acted as a absolute barrier for losses.
Moreover, the 61.8% Fib retracement akin of the aftermost leg from the $10.37 low to $16.08 aerial additionally acted as a abutment breadth forth with the 100 alternate simple affective average, and pushed the amount higher. Currently, the amount is trading abreast an average attrition breadth of $13.90-$14.00, which is preventing added assets in the abbreviate term.
I anticipate the amount may dip one added time to retest the trend band and abutment breadth of the 100 alternate SMA. In that situation, we can accede a concise buy trade. However, the stop should be placed beneath the 100 alternate SMA, as a breach beneath it may alarm for added losses in the abreast term. On the downside, the $13.00 akin can be advised as a abutment breadth for ETH vs USD.
Hourly MACD – The MACD is in the bullish area, but not assuming abundant signs of added assets from the accepted levels.
Hourly RSI – The RSI is aloft the 50 level, which is a absolute assurance for the bulls.
Major Support Level – $13.00
Major Resistance Level – $14.00
Charts address of Kraken via Trading View
