THELOGICALINDIAN - Key Highlights
Ethereum amount charcoal able-bodied bid adjoin the US Dollar and bitcoin. ETH/USD biconcave recently, but it was able-bodied accurate abreast the $98-100 zone.
Recently, there was a solid advancement move aloft the $97-100 attrition area in ETH amount adjoin the US Dollar. The ETH/USD brace traded aloft the $104 attrition and formed a new intraday aerial at $107.81. Later, it started a downside alteration and traded beneath the $104 level. There was a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $92 beat low to $108 beat high.
However, the abatement was adequate by the $97-98 zone, which was a abutment earlier. Moreover, yesterday’s accent key bullish trend band acted as a abutment at $98 on the alternate blueprint of ETH/USD. The 50% Fib retracement akin of the aftermost beachcomber from the $92 beat low to $108 beat aerial additionally acted as a support. The amount is currently trading accurately aloft the trend band and $97. If it continues to breach aloft $97, there could be more gains aloft the $103 and $104 attrition levels. Finally, a breach aloft $107 may advance the amount appear $110 or $112.
Looking at the chart, ETH amount is trading accurately in an uptrend aloft the trend band and $97. However, if there is a downside addendum beneath $97, the amount may conceivably actual further. The abutting above abutment is at $95 and the 100 alternate simple affective average.
Hourly MACD – The MACD is currently placed in the bearish zone.
Hourly RSI – The RSI aloof managed to move aback aloft the 50 level.
Major Support Level – $97
Major Resistance Level – $107
