THELOGICALINDIAN - Key Highlights
Ethereum amount is boring affective college adjoin the US Dollar and Bitcoin. ETH/USD is currently adverse a able attrition abreast the $470 level.
Ethereum Price Upside Hurdle
After a continuous decline, there was a appropriate abutment formed abreast $438-440 in ETH amount adjoin the US Dollar. The ETH/USD brace started an upside move and traded aloft the $445 and $450 attrition levels. There was additionally a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $517 aerial to $439 low. The amount acclimatized aloft the $450 level, which is a absolute sign.
Moreover, there was a breach aloft a key bearish trend band with attrition abreast $452 on the alternate blueprint of ETH/USD. However, the brace faced a able attrition abreast the $470 akin and the 100 alternate simple affective average. It seems like the 38.2% Fib retracement akin of the aftermost abatement from the $517 aerial to $439 low is preventing gains. A breach the $470 and $475 attrition levels is bare for added assets in the abreast term. The abutting key attrition aloft $475 is cat-and-mouse abreast the $487 level.
Looking at the chart, the amount is currently accumulation aloft $450 and abutting to the 100 alternate SMA. If it continues to attempt abreast $470, there could be a downside reaction. On the downside, supports are apparent abreast the $458 and $452 levels, followed by the $450 level.
Hourly MACD – The MACD is about to move aback in the bullish zone.
Hourly RSI – The RSI is currently placed accurately with a absolute bend aloft the 50 level.
Major Support Level – $452
Major Resistance Level – $470
