THELOGICALINDIAN - Key Highlights
Ethereum amount is affective accurately in the bullish area adjoin the US Dollar and Bitcoin. ETH/USD is currently accepting clip and it could move aloft the $860 level.
Ethereum Price Support Base
There were a couple of beat moves in ETH amount from the $840 akin adjoin the US Dollar. The amount traded appear the $760-770 abutment breadth area buyers prevented declines on abounding occasions. A abutment abject was formed abreast $770 and the amount started an upside move. It traded aloft the $780 attrition and the 23.6% Fib retracement akin of the aftermost abatement from the $897 aerial to $768 low.
More importantly, there was a breach aloft a abbreviate appellation bearish trend band with attrition at $800 on the alternate blueprint of ETH/USD. The brace is now closing appear the $840 attrition and is currently trading abreast the 100 alternate simple affective average. At present, the brace is testing the 50% Fib retracement akin of the aftermost abatement from the $897 aerial to $768 low. A breach aloft the $840 and $850 attrition levels could burn further gains in the abreast term. The abutting attrition could the $890 area and the $897 high.
On the downside, an antecedent abutment is at $800 and the 100 alternate SMA. However, the best important abutment charcoal abreast the $760-770 zone.
Hourly MACD – The MACD is affective college and accepting clip in the bullish zone.
Hourly RSI – The RSI has aloof confused aloft the 50 akin and is accepting momentum.
Major Support Level – $770
Major Resistance Level – $850
Charts address – SimpleFX
