THELOGICALINDIAN - Key Highlights
Ethereum amount is aback in a bullish area adjoin the US Dollar and Bitcoin. ETH/USD may abide to move college and it could anon breach the $712 high.
Ethereum Price Trend
A positive bias was accomplished from the $625 abutment breadth in ETH amount adjoin the US Dollar. The amount started an upside move and confused aloft the $645 and $660 attrition levels. It additionally confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $712 beat aerial to $594 low. It indicates that the amount may advance college and it could anon breach the aftermost beat aerial at $712.
The upside move was such that the amount alike austere the 76.4% Fib retracement akin of the aftermost abatement from the $712 beat aerial to $594 low. These all are absolute signs and suggests that the amount is assertive to advance added appear $725-740. On the downside, there is a key abutting bullish trend band basic with abutment at $680 on the alternate blueprint of ETH/USD. The aforementioned trend band abutment at $680 is positioned aloof aloft the 100 alternate simple affective average. Therefore, a breach beneath the $680 and $670 support levels won’t be accessible in the abreast term.
Looking at the chart, it seems like the amount is acceptable to breach the $705 and $712 levels to accretion further. Any dips from the accepted levels abide accurate aloft the $670 and $680 levels.
Hourly MACD – The MACD is boring accepting clip in the bullish zone.
Hourly RSI – The RSI is currently about the 55 akin and is assuming absolute signs.
Major Support Level – $670
Major Resistance Level – $712
