THELOGICALINDIAN - Ethereum amount traded with a bullish bent this accomplished anniversary and it looks like ETH may abide to barter college in the abreast term
Ethereum Price – Buy Near 100 SMA
Ethereum amount ETH was in an uptrend this accomplished anniversary vs the US Dollar, and it bankrupt $10.0 to barter appear $11.00 breadth it begin sellers. The amount traded as aerial as $11.10 afore starting to actual lower. Afore starting an uptrend ETH/USD bankrupt a application triangle arrangement formed on the 4-hours blueprint (data augment via Kraken). The amount additionally acclimatized aloft the 100 simple affective average, which may now act as a abutment area.
ETH is currently acclimation lower, and testing the 23.6% Fib retracement akin of the aftermost beachcomber from the $7.10 low to $11.10 high. However, the best important abutment lies on the downside. The burst triangle trend band may now accommodate abutment to the ETH bulls, as it is additionally positioned with the 38.2% Fib retracement akin of the last wave from the $7.10 low to $11.10 high.
However, one acute abutment is at the 100 SMA (H4 chart), which can act as a barrier for sellers. One may accede affairs dips ETH/USD, but alone as continued as the amount is aloft the 100 SMA (which can be a stop).
4H MACD – The 4-hours MACD is about to move in the bearish slope, which is a assurance of a downside move.
Hourly RSI – The RSI is aloft the 50 level, acceptation the amount may move college already afresh afterwards a correction.
Intraday Support Level – $9.50
Intraday Resistance Level – $11.00
Charts address of Kraken via Trading View
Image: NewsBTC
