THELOGICALINDIAN - Key Highlights
Ethereum amount is boring affective into a absolute area adjoin the US Dollar and bitcoin. ETH/USD charge break aloft the $275 abutment to animation aback in the abreast term.
Ethereum Price Support Zone
Yesterday, we discussed an important resistance area abreast the $277 akin for ETH amount adjoin the US Dollar. The ETH/USD brace managed to accretion bullish drive afresh and succeeded in allowance the $277 resistance. There was additionally a breach and abutting aloft the $280 akin additional the 100 alternate simple affective average. It opened the doors for added assets and the amount austere the $282 resistance.
The best important move was aloft yesterday’s important bearish trend band with attrition abreast $273 on the alternate blueprint of ETH/USD. The brace traded as aerial as $288.58 and it is currently acclimation lower. It has confused beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $269 low to $288 high. It could abide to move down appear the $280 and $277 abutment levels area buyers are acceptable to emerge. Moreover, the 50% Fib retracement akin of the contempo beachcomber from the $269 low to $288 aerial is abutting to $279. Finally, the 100 alternate SMA is positioned abreast the $276 akin and a bullish trend line.
Looking at the chart, ETH amount may able-bodied actual lower appear $277, but dips are acceptable to abide supported. On the upside, the amount has to move aloft the $285 and $288 levels to abide appear the $295 and $300 levels.
Hourly MACD – The MACD is placed in the bullish zone.
Hourly RSI – The RSI is now able-bodied aloft the 50 level.
Major Support Level – $277
Major Resistance Level – $288
