THELOGICALINDIAN - Key Highlights
Ethereum amount is mostly trading in a ambit adjoin the US Dollar and bitcoin. ETH/USD could boring acceleration appear the $290 akin with alignment moves.
Ethereum Price Resistances
After trading as low as $259.17, ETH amount found support adjoin the US Dollar. The ETH/USD brace started affective college with best ambit moves aloft the $270 level. It austere the 38.2% Fib retracement akin of the aftermost bead from the $301 beat aerial to $260 beat low. However, the upside move faced a lot of attrition abreast $280, $281, and 100 alternate simple affective average.
Moreover, the 50% Fib retracement akin of the aftermost bead from the $301 beat aerial to $260 beat low additionally acted as a able resistance. The amount is currently trading in a ambit aloft the $270 level, but there are a few absolute signs as well. There is additionally a concise ascendance approach basic with abutment at $271 on the alternate blueprint of ETH/USD. On the upside, the amount has to breach the $281 attrition and ascend aloft the 100 alternate SMA to gain traction. Aloft this, the amount is acceptable to analysis the $290 attrition in the abreast term. On the downside, the approach abutment is at $271, beneath which, the amount may abatement aback to $260.
Looking at the chart, ETH amount is acceptable to attempt abreast the $281 attrition and the 100 alternate SMA. Having said that, the amount may able-bodied boring and steadily acceleration appear the $290 akin in the abreast term.
Hourly MACD – The MACD is boring affective in the bullish zone.
Hourly RSI – The RSI is placed aloof aloft the 50 level.
Major Support Level – $271
Major Resistance Level – $281
