THELOGICALINDIAN - Key Highlights
Ethereum amount is placed in a absolute area adjoin the US Dollar and Bitcoin. ETH/USD charge break aloft the $454 abutment and the 100 alternate SMA to move higher.
Ethereum Price Trend
Yesterday, there was a decent upside move aloft the $465 attrition in ETH amount adjoin the US Dollar. The ETH/USD brace traded aloft the $480 level, but the upsides were capped by the $484 level. A aerial was formed at $484.22 and the amount adapted lower. It confused beneath the 50% Fib retracement akin of the aftermost beachcomber from the $449 low to $484 high.
However, declines were accurate abreast the $455-460 zone. More importantly, the 100 alternate simple affective boilerplate additionally acted as a able abutment abreast the $460 zone. The 61.8% Fib retracement akin of the aftermost beachcomber from the $449 low to $484 aerial additionally played its allotment in endlessly the aftermost decline. On the downside, there is a aloft bullish trend band formed with abutment at $454 on the alternate blueprint of ETH/USD. Therefore, it seems like the brace is well supported aloft the $450 akin and the 100 alternate simple affective average.
Looking at the chart, the amount is currently trading able-bodied aloft $460 and the 100 alternate SMA. On the upside, an antecedent attrition is about the $474 level. Aloft this, the best important barrier for buyers is abreast $482-484. Finally, a breach aloft this could advance the amount to a new account aerial aloft $490.
Hourly MACD – The MACD is hardly placed in the bearish zone.
Hourly RSI – The RSI is currently placed aloft the 50 level.
Major Support Level – $452
Major Resistance Level – $482
