THELOGICALINDIAN - Key Highlights
Ethereum amount is boring accepting clip adjoin the US Dollar and Bitcoin. ETH/USD needs to breach the $940 attrition to barter added higher.
Ethereum Price Trend
There was no downside break beneath $920 and $900 abutment levels in ETH amount adjoin the US Dollar. The amount started a nice upside move and succeeded in trading aloft the $925 resistance. It additionally confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $970 aerial to $895 low. However, there are abounding resistances on the upside abreast the $940 and $945 levels.
There is additionally a abutting bearish trend band basic with attrition at $940 on the alternate blueprint of ETH/USD. The brace is additionally adverse sellers abreast the 61.8% Fib retracement akin of the aftermost abatement from the $970 aerial to $895 low. However, the amount is currently aloof aloft the 100 alternate simple affective average, but it has to accretion drive aloft $940 for more gains. A breach aloft the $940 attrition could accessible the doors for added upsides against the $970 level.
On the downside, an antecedent abutment is at $930 and the 100 alternate SMA. Should there be a breach beneath $925, the amount could move aback appear $900. The all-embracing amount activity is positive, but the amount has to move aloft $940 to abide in the bullish zone.
Hourly MACD – The MACD is hardly in the bullish area with aloof signs.
Hourly RSI – The RSI is currently aloft the 50 level, but it affective lower with a abrogating angle.
Major Support Level – $900
Major Resistance Level – $940
Charts address – SimpleFX
