THELOGICALINDIAN - Ethereum amount is aback in the absolute area adjoin the US Dollar and Bitcoin However ETHUSD needs to accretion drive aloft 305 and 310 for added gains
Ethereum Price Resistance
This accomplished week, we saw a brace of beat moves in ETH amount appear $274 adjoin the US Dollar. The amount activated a aloft abutment breadth at $274 and started an upside move. The accretion was solid as the amount confused aloft $300 and the 100 simple affective boilerplate (H4). However, the upside move was capped by the $305.50 resistance. There is additionally a acute bearish trend band basic with attrition at $305 on the 4-hours blueprint of ETH/USD.
The trend band attrition prevented assets and pushed the amount aback beneath $300 and 100 SMA (H4). The amount is currently trading abreast the 23.6% Fib retracement akin of the aftermost beachcomber from the $274.65 low to $305.22 high. There is a appropriate abutment at $289.00 and the 50% Fib retracement akin of the last wave from the $274.65 low to $305.22 high. It charge authority losses beneath $288 in the abbreviate appellation or there is a accident of a downside move appear $280.
On the upside, buyers charge to breach the trend band attrition and $305 for added gains. The abutting attrition is at $310 followed by the $325. The best important attrition is at $340 area sellers would appear.
4-hours MACD – The MACD is about to move aback in the bullish zone.
4-hours RSI – The RSI is currently aloof aloft the 50 level.
Major Support Level – $289
Major Resistance Level – $305
Charts address – SimpleFX
