THELOGICALINDIAN - Ethereum amount accursed college this accomplished anniversary vs the USD but it looks like a abbreviate appellation top is formed in ETHUSD about 1488 level
Ethereum Price – Down Move Likely?
Ethereum amount ETH was in an uptrend during the best part of this accomplished anniversary vs the US Dollar, as it connected to barter higher. There was a bullish trend band formed on the alternate blueprint (data augment via Kraken) of ETH/USD, which connected to act as a abutment breadth and pushed the amount higher. However, afterwards trading as aerial as $14.88, there were offers presented and the amount confused down.
The accent bullish trend band and abutment breadth was burst to accessible the doors for added losses in the abreast term. The amount additionally bankrupt beneath the 23.6% Fib retracement akin of the aftermost move from the $10.00 low to $14.88 high. However, ETH is currently award bids abreast the 100 alternate simple affective average, which is acting as a hurdle for sellers.
We charge to see how continued the amount stays about the 100 alternate SMA. A abutting beneath it may accessible the doors for added losses in the abreast term, and ability alarm for a change in the trend from bullish to bearish.
Hourly MACD – The alternate MACD is about to move in the bearish slope, which may burn a downside move.
Hourly RSI – The RSI is beneath the 50 level, calling for a alteration in the abbreviate term.
Intraday Support Level – $12.40
Intraday Resistance Level – $14.00
Charts address of Kraken via Trading View
Image Courtesy of NewsBTC
