THELOGICALINDIAN - Key Highlights
Ethereum amount beneath heavily adjoin the US Dollar and Bitcoin. ETH/USD is now able-bodied beneath $655 and is eyeing added downsides in the abreast term.
Ethereum Price Resistance
The accomplished few sessions were pretty bearish as ETH amount bootless to breach aloft the $700 attrition akin adjoin the US Dollar. The amount started a above downside move and bankrupt the $685 and $655 abutment levels. The abatement was such that the amount acclimatized beneath $650 and is currently trading beneath 100 alternate simple affective average. It traded as low as $625.45 afresh and is currently in a bearish zone.
It may actual a few credibility appear the previous support abreast $655. An antecedent attrition is about the 23.6% Fib retracement akin of the aftermost abatement from the $697 aerial to $625 low. Moreover, there is additionally a new abutting bearish trend band basic with attrition at $655 on the alternate blueprint of ETH/USD. The aforementioned trend band is abutting to the 50% Fib retracement akin of the aftermost abatement from the $697 aerial to $625 low. Therefore, if the amount moves higher, it is acceptable to face sellers abreast $655, $661 and $665.
Looking at the chart, the amount was acutely alone from the $700 zone. It fell acutely and the bent angry bearish with a abutting beneath $655. On the downside, a breach beneath the $625 low ability advance the amount appear the $600 level.
Hourly MACD – The MACD is placed heavily in the bearish zone.
Hourly RSI – The RSI is now abreast the oversold levels.
Major Support Level – $625
Major Resistance Level – $655
