THELOGICALINDIAN - Key Highlights
Ethereum amount is accepting upside drive adjoin the US Dollar and Bitcoin. ETH/USD is acceptable to extend assets with abutting hurdles abreast $547, $550 and $575.
Ethereum Price Trend
There was a decent support abject formed about the $510 akin in ETH amount adjoin the US Dollar. The amount circumscribed for some time afore it started an upside move from the $511 beat low. The 100 alternate simple affective boilerplate (currently at $508) acted as a aloft agitator for an upside move. Buyers succeeded in blame the amount aloft the $530 attrition area.
There was additionally a breach aloft the 1.236 fib addendum of the aftermost abatement from the $524 aerial to $487 low. The accepted trend is absolute aloft the $530 akin and it seems like the amount may abide to rise. Once there is a abutting aloft the $535-536 levels, the amount could move accomplished $540. The abutting attrition is at $547, which is the 1.618 fib addendum of the aftermost abatement from the $524 aerial to $487 low. If the amount corrects lower, the $530 abutment may act as a buy zone. Moreover, there is a new concise abutting bullish trend band forming with abutment at $525 on the alternate blueprint of ETH/USD.
The chart suggests that the amount is accepting drive aloft $525. It could abide to acceleration appear the $550 or alike $575 akin in the abreast term. An average attrition is at $560.
Hourly MACD – The MACD is accepting drive in the bullish zone.
Hourly RSI – The RSI is ascent acutely and is currently abutting the overbought levels.
Major Support Level – $502
Major Resistance Level – $524
