THELOGICALINDIAN - Ethereum amount managed to break absolute admitting a lot of burden from BTC Can the accepted trend in ETHUSD abide affective ahead
Ethereum Price – Move Towards $15.00?
Ethereum amount ETH remained aloft the all-important $12.00 abutment breadth vs the US Dollar this accomplished week, and mostly traded with a absolute tone. I accept been calling for a analysis of $15.00 in ETH/USD, but the amount bootless to accretion momentum. It was mostly due to BTC aggressive not alone adjoin the US Dollar, but additionally vs ETH. So, the ETH beasts struggled to accretion clip vs the USD.
However, it still managed to column gains, and there was additionally a breach aloft a bearish trend band formed on the 4-hours blueprint (data augment via Kraken) of ETH/USD. The amount is currently accumulation assets and award bids abreast the 23.6% Fib retracement akin of the aftermost leg from the $10.40 low to $14.38 high. The best important abutment is about the 100 simple affective boilerplate (H4), which is acting as a barrier for the ETH sellers.
If you are attractive to access a buy trade, again accede agreement a stop beneath the 100 SMA, and I would still aim for a analysis of the $15.00 level.
4-hours MACD – The MACD is in the bearish slope, which is a affair for the ETH bulls.
4-hours RSI – The RSI is aloft the 50 level, suggesting that there is abundant drive to advance the amount higher.
Weekly Support Level – $12.80
Weekly Resistance Level – $14.50
Charts address of Kraken via Trading View
