THELOGICALINDIAN - Ethereum amount is assuming signs of a alteration against the US Dollar and charcoal bearish vs bitcoin ETH amount is acceptable to animation aback already the accepted alteration is complete
Ethereum Price Analysis
After disturbing to beat the $275 resistance, Ethereum amount started a downside alteration adjoin the US Dollar. The ETH/USD brace traded beneath the $270 and $265 abutment levels. There was additionally a abutting beneath the $270 akin and the 100 alternate simple affective average. Moreover, the amount traded beneath a above bullish trend band with abutment abreast $270 on the alternate chart.
It opened the doors for added losses, but the $262 and $260 abutment levels remained intact. A beat low was formed abreast $261 and the amount is currently affective higher. It surpassed the 23.6% Fib retracement akin of the contempo abatement from the $275 aerial to $261 low. Moreover, there was a breach aloft a crumbling approach with attrition at $264 on the alternate blueprint of ETH/USD.
The brace is currently testing the $266 akin and the 100 alternate simple affective average. If there is a acknowledged breach aloft the 100 alternate simple affective average, the amount could acceleration appear the $270 resistance. An average attrition is abreast the 50% Fib retracement akin of the contempo abatement from the $275 aerial to $261 low. A acknowledged abutting aloft the $268 and $270 levels is acceptable to alpha a beginning access in the abreast term.
On the downside, an actual abutment is abreast the $264 level. However, the capital supports are $262 and $260. If there is a abutting beneath the $260 support, the amount is acceptable to abatement further.
Looking at the chart, Ethereum amount charcoal in a absolute area as continued as it is aloft $260. If it fails to authority the $260 support, there could be a downside addendum beneath the $258 and $255 supports. On the upside, the key hurdles are abreast $270, $275 and $280.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring affective aback in the bullish zone, with absolute signs.
Hourly RSI – The RSI for ETH/USD is still beneath the 50 level, with a collapsed structure.
Major Support Level – $260
Major Resistance Level – $270
