THELOGICALINDIAN - Ethereum amount was cool bullish this accomplished anniversary adjoin the US dollar to barter aloft 18 and 20 but now ETHUSD faces a above resistance
Ethereum Price Resistance
It was an amazing week for ETH price, as it managed to accretion by added than $4-5 gainst the US dollar. It was additionally apparent trading college adjoin the Bitcoin, as ETH/BTC bankrupt the 0.0120BTC attrition to barter aloft 0.0150BTC. The best allotment this accomplished anniversary was a abutting aloft the all-important $14.80 attrition area. The declared breadth at $14.80 and $15.00 acted as a aloft hurdle on abounding occasions. A breach aloft it was a acceptable assurance for Ethereum buyers in the abbreviate term.
The amount surged college and traded aloft the $20.00 handle. A new aerial was set abreast $20.53. However, the amount bootless to barter appear the best aerial of $21.16 (data augment via SimpleFX). It is assuming some signs of retreat already and affective down. There is a aerial adventitious that the amount ability actual lower and barter appear $17.00 akin in the abreast term.
On the downside, an antecedent abutment is abreast the 23.6% fib retracement akin of the aftermost beachcomber from the $5.69 low to $20.53 high. However, the amount is acutely in a bullish trend, so any pullbacks may be advised as a affairs opportunity. So, if you are a buyer, delay for the appropriate time.
Daily MACD – The MACD is now in the bullish area with acceptable signs.
Daily RSI – The RSI is into the overbought levels, but no assurance of a pullback.
Major Support Level – $17.00
Major Resistance Level – $21.00
Charts address – SimpleFX
