THELOGICALINDIAN - Key Highlights
Ethereum amount is currently acclimation lower adjoin the US Dollar and Bitcoin. ETH/USD is acceptable to acquisition abutment abreast the $472 akin in the abreast term.
Ethereum Price Support
Yesterday, there was a fresh upside move aloft the $475 akin in ETH amount adjoin the US Dollar. The ETH/USD brace bankrupt the $490 attrition and traded to a new account aerial at $496. Later, it started a downside alteration and beneath beneath the $485 support. There was additionally a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $462 low to $496 high.
However, the amount is abutting abounding key supports like $478, $472 and $470. There is additionally a above bullish trend band basic with abutment at $472 on the alternate blueprint of ETH/USD. Above the trend band support, the 100 alternate simple affective boilerplate is positioned abreast the $473 level. At the moment, the amount is testing the 50% Fib retracement akin of the aftermost beachcomber from the $462 low to $496 high. There is a adventitious of a downside fasten before buyers appear abreast the $472-474 area. Below $472, there is a adventitious of an continued abatement aback appear the $460 akin in the abreast term.
Looking at the chart, the amount charcoal able-bodied accurate aloft the $470 level. On the upside, the amount charge breach the $486 akin to barter aloft $490. Finally, a breach aloft the contempo aerial at $496 is bare for added assets aloft $500.
Hourly MACD – The MACD is placed heavily in the bearish zone.
Hourly RSI – The RSI is currently abutting the 40 level.
Major Support Level – $472
Major Resistance Level – $490
