THELOGICALINDIAN - Key Highlights
Ethereum amount beneath heavily adjoin the US Dollar and Bitcoin. ETH/USD is now able-bodied beneath the $400.00 akin and it charcoal at a accident of added losses.
Ethereum Price Trend
There was a solid increase in affairs pressure, which pushed ETH amount bottomward by added than $50 adjoin the US Dollar. The amount traded beneath abounding abutment levels such as $410 and $400. It alike traded beneath the $375 akin and formed a new account low at $365. It seems like the amount charcoal in a above declivity and it could abide to abatement appear $350.
In the abbreviate term, there could be a alteration from $365. An antecedent attrition on the upside is abreast the 23.6% Fib retracement akin of the aftermost abatement from the $451 aerial to $365 low. Moreover, there is a above bearish trend band basic with attrition at $410 on the alternate blueprint of ETH/USD. The same trend line is positioned with the 50% Fib retracement akin of the aftermost abatement from the $451 aerial to $365 low. Therefore, if the amount corrects higher, it is acceptable to face hurdles abreast the $400 and $410 levels. Above the mentioned $410, the abutting acute barrier for ETH buyers is abreast the $450 level.
On the downside, the contempo low of $365 may be breached soon. A downside breach beneath the $365 akin could advance declines appear the $350 akin in the abreast term.
Hourly MACD – The MACD is placed accurately in the bearish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 40 level.
Major Support Level – $350
Major Resistance Level – $410
Charts address – Trading View
