THELOGICALINDIAN - Ethereum amount attenuated a few credibility this accomplished anniversary Now can it administer to balance or will it breach bottomward for added losses Lets try to amount it out
Ethereum Price – Trend Line Support Holds Key
Ethereum amount traded in a abiding appearance this accomplished week, as there were no agrarian swings in ETHUSD. The amount was mostly apparent struggling this accomplished week, and every time there was a accessory correction, bears stepped in to anticipate added gains. Now, the amount seems to be trading abreast a acute abutment area, as ETH is trading abreast a monster bullish trend band on the 4-hours blueprint of Ethereum amount (data augment via Kraken).
If the amount has to remain in the bullish zone, again the trend band abutment charge authority in the abreast term. The 38.2% Fib retracement akin of the aftermost beachcomber from the $3.5 low to $15.10 aerial is additionally about the trend band abutment area, pointing appear the accent of the abutment area.
If there is a breach beneath the trend band abutment area, and ETHUSD closes beneath it, again added losses are acceptable affective ahead. The 50% Fib retracement akin of the aftermost beachcomber from the $3.5 low to $15.10 aerial can additionally be tested. If you are attractive to buy, again stop should be a H4 candle abutting beneath the trend band abutment area.
4-hours MACD – The MACD is in the bearish zone, calling for a downside move.
4-hours RSI – The RSI is aloof aloft the 50 level, which is a absolute assurance for the bulls.
Intraday Support Level – $10.00
Intraday Resistance Level – $11.80
Charts address of Kraken via Trading View
