THELOGICALINDIAN - Key Highlights
Ethereum amount is ascent acutely adjoin the US Dollar and Bitcoin. ETH/USD is now able-bodied aloft the $440 axis akin and eyes upsides aloft $500.
Ethereum Price Uptrend
Yesterday, we saw a decent alpha of an upside move aloft $425 in ETH amount adjoin the US Dollar. The amount acquired upside drive and it succeeded in breaking a acute axis akin at $440. It austere the way for added assets and the amount rocketed aloft the $480 level. It alike broken the $500 akin and traded as aerial as $503.34. At the moment, the amount is accumulation assets aloft the $480 level.
It afresh beneath beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $450 low to $503 high. However, the downside alteration was bound by the $480-484 abutment area. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $450 low to $503 aerial acted as a support. It seems like there is a solid abutment forming aloft the $480 level. There is additionally a above bullish trend band basic with abutment at $440 on the alternate blueprint of ETH/USD.
Therefore, it seems like the amount is placed accurately aloft $480 and is advancing for added upsides. A able abutting aloft the $500 akin could accessible the doors for added gains. If there is a downside alteration from the accepted levels, the burst resistances at $480 and $440 are acceptable to accommodate supports.
Hourly MACD – The MACD is placed accurately in the bullish zone.
Hourly RSI – The RSI is currently abreast the 70 level.
Major Support Level – $480
Major Resistance Level – $500
Charts address – Trading View
