THELOGICALINDIAN - Key Highlights
Ethereum amount is boring accepting drive adjoin the US Dollar and Bitcoin. ETH/USD may anon move aloft the $840 attrition to accretion added momentum.
Ethereum Price Support
There was a fresh alpha of an upside move in ETH amount bygone aloft the $700 akin adjoin the US Dollar. The amount was apparent disturbing to breach the $780 attrition yesterday. However, it was acknowledged in breaking the mentioned $780 attrition and acquired upside momentum. There was additionally a breach aloft the 76.4% Fib retracement akin of the aftermost abatement from the $850 aerial to $553 low.
More importantly, there was a breach aloft a aloft bearish trend band with attrition at $775 on the alternate blueprint of ETH/USD. The brace is now aback in the bullish bent aloft the $775-780 akin and the 100 alternate simple affective average. It traded as aerial as $848 afresh and it is currently acclimation lower. It already activated the 38.2% Fib retracement akin of the aftermost beachcomber from the $553 low to $848 high. There is a bullish trend band forming with abutment at $740, which is acting as a acceptable buy zone.
As continued as the brace is aloft the $730-740 levels, it could abide to move higher. Aloft $848, the amount may analysis the $900 akin in the abreast term. On the downside, beneath $730, the amount may retest the $700 axis area.
Hourly MACD – The MACD is boring accident anchor in the bullish zone.
Hourly RSI – The RSI is aloof captivation the 50 akin with a accessory downside angle.
Major Support Level – $730
Major Resistance Level – $848
Charts address – SimpleFX
