THELOGICALINDIAN - Key Highlights
Ethereum amount is in a accretion approach adjoin the US Dollar and Bitcoin. ETH/USD charge aperture the 100 alternate SMA to abide its upside momentum.
Ethereum Price Resistance
There was a decent upside move in ETH amount from the $480 beat low adjoin the US Dollar. The amount traded college and recovered aloft the $500 and $520 attrition levels. The best allotment was a abutting aloft the 50% Fib retracement akin of the aftermost bead from the $610 beat aerial to $454 low. It seems like the amount is now trading in a absolute area aloft the $520 level.
During the upside move, yesterday’s accent aloft bearish trend band with attrition at $535 was burst on the alternate blueprint of ETH/USD. At the moment, the brace is disturbing to breach the $560 attrition and the 100 alternate simple affective average. Moreover, a abutting aloft the 61.8% Fib retracement akin of the aftermost bead from the $610 beat aerial to $454 low is bare for buyers to booty ascendancy in the abreast term. Once the price succeeds in breaking the $560 attrition and the $570 barrier, it could calmly move aloft the $600 level.
On the downside, there is a appropriate abutment basic abreast $520. Below $520, the $500 akin is a concise support. ETH amount has to break aloft the $500 akin if it has to move college aloft $560 in the abreast term.
Hourly MACD – The MACD is currently collapsed in the bullish zone.
Hourly RSI – The RSI is accurately placed aloft the 50 level.
Major Support Level – $520
Major Resistance Level – $560
Charts address – Trading View
