THELOGICALINDIAN - Key Highlights
Ethereum amount is beneath abundant affairs burden adjoin the US Dollar and Bitcoin. ETH/USD is now in the bearish area and it could abatement added beneath $715.
Ethereum Price Trend
There was a bearish trend accomplished this anniversary from able-bodied aloft $840 in ETH amount adjoin the US Dollar. The amount started a downside move and traded beneath the $830 support. There was additionally a breach beneath a bullish trend band at $838 and accumbent abutment at $775. It opened the doors for added losses and the amount bankrupt beneath the $775 akin and the 100 alternate simple affective average.
A low was formed at $714 afresh from area the amount started an upside correction. It activated the 23.6% Fib retracement akin of the aftermost abatement from the $856 aerial to $714 low. However, it seems like the amount is disturbing to move aloft the $750-760 resistance zone. On the upside, there is a above attrition abreast $775. The declared akin was a abutment beforehand and now it may act as a resistance. The declared $775 akin is additionally abreast the 50% Fib retracement akin of the aftermost abatement from the $856 aerial to $714 low.
Furthermore, there is a acute bearish trend band basic with attrition at $821 on the alternate blueprint of ETH/USD. Overall, the brace is in a bearish trend and it may alike breach the contempo low of $714 low.
Hourly MACD – The MACD is accepting drive in the bearish zone.
Hourly RSI – The RSI is abreast acute oversold levels.
Major Support Level – $700
Major Resistance Level – $775
Charts address – SimpleFX
