THELOGICALINDIAN - Key Highlights
Ethereum amount is beneath burden beneath adjoin the US Dollar and bitcoin. ETH/USD is still aloft the $270-274 support, which is a absolute sign.
Ethereum Price Trend Support
Yesterday, there was a downside correction accomplished from the $298 beat aerial in ETH amount adjoin the US Dollar. The ETH/USD brace beneath and bankrupt the $290 and $284 abutment levels. The abatement was such that the amount acclimatized beneath the $284 abutment and the 100 alternate simple affective average. There was additionally a breach beneath the 76.4% Fib retracement akin of the aftermost beachcomber from the $270 beat low to $298 high.
The amount about activated the aftermost beat low and traded as low as $270.50. Later, there was a aciculate bullish acknowledgment and the amount confused aloft $280. There was additionally a breach aloft a abutting bearish trend band with attrition at $280 on the alternate blueprint of ETH/USD. However, the amount struggled to bright the antecedent abutment at $284 and the 100 alternate SMA. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $297 aerial to $270 low additionally acted as a resistance. The amount aloof and is currently retesting the burst trend band at $276.
Looking at the chart, ETH amount was alone from the $270-274 abutment area. As continued as the amount is aloft the mentioned support, it could animation aback appear the $284 and $290 attrition in the abreast term.
Hourly MACD – The MACD is about to move aback in the bearish zone.
Hourly RSI – The RSI is currently beneath the 50 akin and is affective south.
Major Support Level – $274
Major Resistance Level – $284
