THELOGICALINDIAN - Key Highlights
Ethereum amount is boring accepting drive adjoin the US Dollar and bitcoin. ETH/USD is now placed accurately in a absolute area aloft the $284 level.
Ethereum Price Support
After trading as low as $268.13, ETH formed a abject for an upward move adjoin the US Dollar. The ETH/USD brace started trading college and acquired drive aloft the $278 and $284 attrition levels. The amount additionally surged aloft the $290 akin and acclimatized aloft the 100 alternate simple affective average. More importantly, the amount confused accomplished the 50% Fib retracement akin of the aftermost abatement from the $306 aerial to $268 low.
Additionally, yesterday’s accent key bearish trend band with attrition at $281 was breached on the alternate blueprint of ETH/USD. The brace is now placed accurately aloft the $284 level, which is a absolute sign. The contempo upside move begin sellers abreast the $300-301 zone. The amount aloof and is currently trading beneath the $295 level. Sellers pushed the amount beneath the 23.6% fib retracement akin of the aftermost beachcomber from the $268 low to $301 high. On the downside, the abutting abutment is abreast the $288 akin and the 100 alternate SMA. Beneath this, the abutting major support is abreast the $284 level, which is additionally a axis level.
Looking at the chart, ETH amount is trading with bullish moves aloft $282. On the upside, the amount has to move aloft the $295 and $300 resistances for added assets in the abreast term.
Hourly MACD – The MACD has confused aback acutely in the bullish zone.
Hourly RSI – The RSI is currently able-bodied aloft the 55 level.
Major Support Level – $284
Major Resistance Level – $301
