THELOGICALINDIAN - Key Highlights
Ethereum amount is placed accurately in a bullish area adjoin the US Dollar, but it is disturbing against bitcoin. ETH/USD may anon breach $304 to accretion momentum.
Ethereum Price Trend
There were mostly ambit moves aloft the $277 akin in ETH amount during the accomplished few sessions adjoin the US Dollar. The ETH/USD brace formed a appropriate abutment abreast $277 and after started an upside move. It traded aloft the 50% Fib retracement akin of the aftermost bead from the $331 aerial to $250 low. There were a brace of bullish candles formed aloft $280, but beasts bootless to accretion momentum.
More importantly, there was a breach aloft a key bearish trend band with attrition at $295 on the alternate blueprint of ETH/USD. The brace is now trading aloft the $290 akin and the 100 alternate simple affective average. If the contempo breach is accurate and buyers accretion traction, the amount may able-bodied move accomplished the $304 resistance. Aloft this, the abutting attrition is abreast the 76.4% Fib retracement akin of the aftermost bead from the $331 aerial to $250 low. Finally, the amount ability aim to analysis the aftermost beat aerial at $331-332.
Looking at the chart, ETH amount is trading with a absolute bent aloft $277-280. In the abbreviate term, there could be a tiny bearish reaction, but the amount is acceptable to acquisition abutment abreast the $282 and $277 levels.
Hourly MACD – The MACD is assuming absolute signs in the bullish zone.
Hourly RSI – The RSI is now placed able-bodied aloft the 50 akin with a bullish angle.
Major Support Level – $277
Major Resistance Level – $304
