THELOGICALINDIAN - Key Highlights
Ethereum amount is affective accurately aloft $285 adjoin the US Dollar, but backward bearish vs bitcoin. ETH/USD may able-bodied actual lower appear $285 afore resuming upsides.
Ethereum Price Trend
There was a slow and abiding rise in ETH amount from the $274 beat low adjoin the US Dollar. The ETH/USD brace traded college and bankrupt the $285 and $290 attrition levels. There was alike a abutting aloft the $285 akin and the 100 alternate simple affective average. The amount climbed college and it about activated the $300 attrition zone. A aerial was formed at $298.31 and the amount is currently acclimation lower.
It is currently testing the 23.6% Fib retracement akin of the contempo leg from the $274 low to $298 high. More importantly, there is an ascendance approach in abode with abutment at $291 on the alternate blueprint of ETH/USD. If there is a breach beneath the approach support, the amount may able-bodied analysis the $286 support. It represents the 50% Fib retracement akin of the contempo leg from the $274 low to $298 high. Additionally, the $285 akin is additionally a decent abutment for buyers in the abreast term.
Looking at the chart, ETH amount is placed accurately aloft the $285-286 zone. If it bounces from the approach support, it could retest the $298 high. Aloft the high, the amount is acceptable to breach the $300 attrition for a new intraday high. On the downside, beneath $291, the $285 and $286 levels are important supports.
Hourly MACD – The MACD is hardly placed in the bullish zone.
Hourly RSI – The RSI is currently acclimation lower appear the 55 level.
Major Support Level – $286
Major Resistance Level – $298
