THELOGICALINDIAN - Key Highlights
Ethereum amount is boring affective college adjoin the US Dollar and Bitcoin. ETH/USD charge breach the $570 hurdle for added gains, with abutment at $550.
Ethereum Price Upside Hurdle
There was a absolute amount activity in ETH amount aloft the $500 akin adjoin the US Dollar. The amount succeeded in affective aloft the $540 attrition level, which opened the doors for added gains. It additionally succeeded in affective aloft the 61.8% Fib retracement akin of the aftermost abatement from the $610 aerial to $437 beat low. Added importantly, there was a slight breach aloft the $560 akin and the 100 alternate simple affective average.
At the moment, the amount is disturbing to breach the $570 level, which was a abutment earlier. A acknowledged abutting aloft the mentioned $570 akin is bare for buyers to accretion momentum. On the downside, there is a new abutting bullish trend band basic with abutment at $550 on the alternate blueprint of ETH/USD. Below the trend line, the 23.6% Fib retracement akin of the aftermost beachcomber from the $437 low to $570 aerial is at $538 to act as a support. The amount charge breach aloft the $538 akin if it has to breach $570.
Below $538, the amount may analysis the 50% Fib retracement akin of the aftermost beachcomber from the $437 low to $570 aerial at $504. The all-embracing amount activity is absolute and there are affairs of ETH breaking the $570 level.
Hourly MACD – The MACD is slowing accident drive in the bullish zone.
Hourly RSI – The RSI is able-bodied aloft the 50 level.
Major Support Level – $538
Major Resistance Level – $570
Charts address – Trading View
