THELOGICALINDIAN - Key Highlights
Ethereum amount climbed college aloft key levels adjoin the US Dollar and Bitcoin. ETH/USD may actual lower, but dips are acceptable to acquisition buyers aloft $500.
Ethereum Price Support
Yesterday, there was a solid abutment base formed abreast $483-485 in ETH amount adjoin the US Dollar. The amount started an upside move and traded aloft the $495 attrition level. It opened the doors for added assets and the amount alike jumped aloft the $500 handle and the 100 alternate simple affective average. Additionally, there was a breach aloft the 61.8% Fib retracement akin of the aftermost abatement from the $526 aerial to $481 low.
During the upside move, there was a breach aloft a aloft bearish trend band with attrition at $498 on the alternate blueprint of ETH/USD. The brace was able to acquisition bids aloft the $510 attrition and it traded abutting to the $526 beat high. At the moment, the amount is accumulation assets beneath $526. An initial support is about the 38.2% Fib retracement akin of the aftermost beachcomber from the $481 low to $526 high. However, the best important abutment is abreast the $504 akin and the 100 alternate SMA. It additionally coincides with the 50% Fib retracement akin of the aftermost beachcomber from the $481 low to $526 high.
Looking at the chart, the amount is trading with a absolute bent aloft $504. On the upside, a breach aloft $526 may conceivably advance the amount appear $540.
Hourly MACD – The MACD is affective in the bullish zone.
Hourly RSI – The RSI is acclimation lower from the 70 level.
Major Support Level – $504
Major Resistance Level – $526
