THELOGICALINDIAN - Key Highlights
Ethereum amount is trading aloft key levels adjoin the US Dollar and Bitcoin. ETH/USD has to beat the 100 alternate SMA and $385 to move higher.
Ethereum Price Resistance
There were mostly negative moves in ETH amount beneath the $400 akin adjoin the US Dollar. The amount traded lower, but the best affair was the actuality that it backward aloft the $362-364 support. The contempo low was formed at $364.32 afore the amount started a consolidation. It is currently trading aloft the $364 level, but there are abounding hurdles on the upside.
At the moment, the amount is disturbing to breach the 38.2% Fib retracement akin of the aftermost abatement from the $418 aerial to $365 low. However, the capital hurdle is the $385 akin and the 100 alternate simple affective average. A breach and abutting aloft the 100 alternate SMA is bare for a advance appear $400. An average attrition is about the 50% Fib retracement akin of the aftermost abatement from the $418 aerial to $365 low. Once the amount succeeds in breaking the $385 and $391 resistances, it could move aloft the $400 level.
On the downside, the amount has to breach aloft the $362 and $364 abutment levels. If buyers abort to assure losses aloft $362, there could be a abatement appear $350. In the short-term, there could be alignment moves with affairs of an upside breach aloft the $385 level.
Hourly MACD – The MACD is hardly placed in the bullish zone.
Hourly RSI – The RSI is aloof beneath the 50 level.
Major Support Level – $362
Major Resistance Level – $385
Charts address – Trading View
