THELOGICALINDIAN - Key Highlights
Ethereum amount is boring crumbling already afresh adjoin the US Dollar and Bitcoin. ETH/USD charcoal at a accident of added declines beneath the $500 level.
Ethereum Price Resistance
There were no added gains aloft the $585-590 levels in ETH amount adjoin the US Dollar. The amount started a downside move and traded beneath the $575 and $560 abutment levels. There was additionally a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $455 low to $589 high. During the decline, the amount additionally bankrupt the $540 akin and it is currently able-bodied beneath the 100 alternate simple affective average.
More importantly, there was a breach beneath a above bullish trend band with abutment at $560 on the alternate blueprint of ETH/USD. At the moment, the brace is trading a few credibility beneath the 50% Fib retracement akin of the aftermost beachcomber from the $455 low to $589 high. It may abide to decline in the abbreviate appellation and there is a accident of a breach beneath of the $500 support. Beneath $500, the amount may barter lower appear the 76.4% Fib retracement akin of the aftermost beachcomber from the $455 low to $589 aerial at $487.
On the upside, there is a abutting bearish trend band with accepted attrition at $554.00. Moreover, the 100 alternate SMA is positioned at $552 to act as a above hurdle for buyers.
Hourly MACD – The MACD is now in the bearish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 60 level.
Major Support Level – $500
Major Resistance Level – $550
Charts address – Trading View
