THELOGICALINDIAN - Ethereum amount is trending college adjoin the US Dollar and it looks like the ETHUSD brace may claiming the 5350 attrition soon
Ethereum Price Upside Hurdle
This accomplished week, there were a couple of beat moves in ETH amount appear $50 adjoin the US Dollar. The amount biconcave and again recovered aloft the $46.00 level. The upside move was decent, as the amount was aloft to abutting aloft the 100 simple affective boilerplate (H4) at $46.05. Also, there was a abutting aloft the 23.6% Fib retracement akin of the aftermost abatement from the $53.40 aerial to $40.70 low.
Later, the amount climbed aloft a aloft bearish trend band with attrition at $43.70 on the 4-hours blueprint of ETH/USD pair. This was a absolute assurance and aerial the amount aloft the $46.00 level. To add to the bullish traction, the amount climbed aloft the 50% Fib retracement akin of the last decline from the $53.40 aerial to $40.70 low. And, it afresh traded as aerial as $50.99 area it begin sellers and confused down.
Since, the amount is aloft the 61.8% Fib retracement akin of the aftermost abatement from the $53.40 aerial to $40.70 low, it charcoal bullish. There is a adventitious that the amount may extend the contempo upside soon. Before upside, the amount may retest the 100 simple affective boilerplate (H4) at $46.05, and again move higher.
4-hours MACD – The MACD is currently in the bullish zone.
4-hours RSI – The RSI charcoal able-bodied aloft the 50 level.
Major Support Level – $46.00
Major Resistance Level – $50.99
Charts address – SimpleFX
