THELOGICALINDIAN - Key Highlights
Ethereum amount currently accumulation adjoin the US Dollar and bitcoin. ETH/USD is abiding aloft $400, but it is adverse abounding barriers abreast the $410 level.
Ethereum Price Resistance
There was no aloft move aloft the $415 akin in ETH amount adjoin the US Dollar. The ETH/USD brace traded in a bound ambit aloft the $400 akin with a few absolute moves. Yesterday, there was a accessory upside move aloft the $405 level. However, the upside move faced sellers abreast the $410-412 breadth and the 100 alternate simple affective average. The amount beneath already again, but the $400 akin acted as a support.
At the moment, the amount is trading aloft the $400 akin with an actual attrition at $407. It represents the 50% Fib retracement akin of the aftermost bead from the $413 aerial to $400 low. Added importantly, yesterday’s accent important bearish trend line is complete with attrition at $410 on the alternate blueprint of ETH/USD. The bearish trend band at $410 is abutting to the 100 alternate SMA. Moreover, the 76.4% Fib retracement akin of the aftermost bead from the $413 aerial to $400 low is additionally abreast $710. Therefore, a breach aloft the $410 akin and the 100 alternate SMA is bare for added assets in the abreast term.
Looking at the chart, ETH amount is still trading in a ambit aloft $400. It may possibly accomplish the abutting move aloft $410 if buyers abide to avert $400.
Hourly MACD – The MACD is currently in the bearish zone.
Hourly RSI – The RSI is disturbing to move accomplished the 50 akin and is currently at 45.
Major Support Level – $400
Major Resistance Level – $410
