THELOGICALINDIAN - Key Highlights
Ethereum amount charcoal in a declivity adjoin the US Dollar and bitcoin. ETH/USD charge bright the $320 and $330 attrition levels to balance appear $355.
Ethereum Price Trend
There were abundant declines beneath $348-350 in Ethereum amount this accomplished anniversary adjoin the US Dollar. The ETH/USD brace traded as low as $304.26 and is currently accumulation losses with a few absolute moves. It traded aloft the $315 akin and acicular aloft $325. There was additionally a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $363.03 aerial to $304.26 low.
However, the upside move was capped by the $328-330 levels. Moreover, the 38.2% Fib retracement akin of the aftermost abatement from the $363.03 aerial to $304.26 low acted as a resistance. At the outset, there is a aloft bearish trend band in abode with attrition at $320 on the alternate blueprint of ETH/USD. Aloft the trend band resistance, the 100 alternate simple affective boilerplate is positioned abreast $340. Therefore, it seems like there is a array of resistances formed amid $320-340. A breach aloft this could advance the amount aloft the $348-350 attrition area in the abreast term.
Looking at the chart, ETH amount is assuming no aloft signs of a accretion aloft $320. Therefore, it could dip a few credibility beneath the $315 akin afore it attempts to breach the $320 and $330 attrition levels already again.
Hourly MACD – The MACD is mostly collapsed in the bearish zone.
Hourly RSI – The RSI is currently affective collapsed and is currently beneath the 50 level.
Major Support Level – $310
Major Resistance Level – $330
