THELOGICALINDIAN - Ethereum amount is assuming a lot of absolute signs against the US Dollar and bitcoin ETH amount is currently trading accurately aloft 300 and it could abide higher
Ethereum Price Analysis
In the accomplished few sessions, there was a apathetic and abiding acceleration in Ethereum from the $286 beat low adjoin the US Dollar. The ETH/USD brace formed a appropriate abutment abject aloft the $285 akin and afresh traded aloft the $290 and $295 attrition levels. Moreover, there was a abutting aloft the $300 akin and the 100 alternate simple affective average. It opened the doors for added assets aloft the $305 level.
A new account aerial was formed abreast $311 and the amount is currently acclimation lower. It bankrupt the $305 akin and the 23.6% Fib retracement akin of the contempo beachcomber from the $290 low to $311 high. However, the contempo abatement seems limited, with supports abreast $302 and $300. At the outset, the $302 akin is acting as a solid support. Moreover, the 50% Fib retracement akin of the contempo beachcomber from the $290 low to $311 aerial is abreast the $300 akin to act as a able support.
More importantly, there is a above bullish trend band basic with abutment abreast $292 on the alternate blueprint of ETH/USD. The brace charcoal able-bodied accurate on the downside abreast the $300, $295 and $292 levels. The 61.8% Fib retracement akin of the contempo beachcomber from the $290 low to $311 aerial is additionally abreast $298. Therefore, dips abide able-bodied accurate on the downside in the abreast term.
On the upside, if there is a breach aloft the $308-310 resistance, the amount could advance higher. The abutting aloft hurdle for the beasts is abreast the $308 level, aloft which the amount could advance appear the $325 level.
Looking at the chart, Ethereum amount is assuming a lot of absolute signs aloft $300 and it alike outpaced bitcoin in the contempo advancement move. Once the accepted alteration is complete, the amount could acceleration aloft $310.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently abbreviation its bullish slope, with a few bearish signs.
Hourly RSI – The RSI for ETH/USD is currently acclimation lower from the 80 level.
Major Support Level – $300
Major Resistance Level – $310
