THELOGICALINDIAN - Key Highlights
Ethereum amount fabricated a nice bullish move adjoin the US Dollar and bitcoin. ETH/USD is now trading in a bullish area and it may acquisition a able abutment abreast $89-90.
After a accessory downside correction from $88, ETH amount begin abutment abreast $83 adjoin the US Dollar. The ETH/USD brace formed a abutment abject abreast $83 and after started a solid upside move. It jumped aloft the $86 attrition and the 100 alternate simple affective average. The upside move was able as the amount alike managed to beat a cogent barrier abreast the $89-90 zone.
Moreover, there was a breach aloft a acute bearish trend band with attrition at $87 on the alternate blueprint of ETH/USD. The brace climbed aloft the $95 akin and traded abutting to $97. It is currently acclimation lower beneath the $95 level. The amount is trading abreast the 23.6% Fib retracement akin of the aftermost beachcomber from the $83 low to $97 high. However, there are abounding supports on the downside abreast the $89-90 zone. The antecedent attrition abreast $90 is acceptable to act as a strong support. Besides, the 50% Fib retracement akin of the aftermost beachcomber from the $83 low to $97 aerial is abreast $90.
Looking at the chart, ETH amount acutely climbed aloft key hurdles abreast $90, which may now act as supports. On the upside, a breach aloft $96-97 may advance the amount appear the $100 and $105 attrition levels.
Hourly MACD – The MACD is boring affective aback in the bearish zone.
Hourly RSI – The RSI is currently able-bodied aloft the 60 level.
Major Support Level – $90
Major Resistance Level – $97
