THELOGICALINDIAN - Ethereum amount acquired solid bullish drive adjoin the US Dollar and Bitcoin ETHUSD is now eyeing added assets aloft the 860 level
Ethereum Price Support
Yesterday, we saw a solid upside move in ETH amount aloft the $850 akin adjoin the US Dollar. The amount traded to a new best aerial at $879.51 afore it started a downside correction. An antecedent abutment on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $724 low to $879 high. There are actual beneath affairs of a substantial correction from the accepted levels beneath $810.
On the downside, there are two key bullish trend curve basic with abutment at $840 and $790 on the alternate blueprint of ETH/USD. The brace is currently accumulation aloft the aboriginal trend band and abutment at $840. It seems like the brace is advancing for added assets aloft $879. Once there is a breach aloft the $879 high, the amount could attempt a analysis of the $900 handle in the abreast term.
In agreement of the support, the trend band abutment at $840 is important. Below $840, the amount may analysis the 50% Fib retracement akin of the aftermost beachcomber from the $724 low to $879 aerial at $801. Therefore, it is safe to say that ETH/USD charcoal able-bodied bid on the downside abreast $840 and $805.
Hourly MACD – The MACD is currently abbreviation the bullish slope, but charcoal accurately placed.
Hourly RSI – The RSI is currently affective lower from 65 appear the 50 level.
Major Support Level – $840
Major Resistance Level – $879
Charts address – SimpleFX
