THELOGICALINDIAN - Key Highlights
Ethereum amount is aback in the bullish area adjoin the US Dollar and Bitcoin. ETH/USD is acceptable to extend assets aloft the $1200 and $1250 level.
Ethereum Price Support
There was a start of a beginning upside beachcomber in ETH amount aloft the $1120 akin adjoin the US Dollar. The amount acquired clip and was able to move aloft the $1150 and $1200 attrition levels. It alike traded aloft the $1220 akin and formed a aerial at $1229. Later, a downside alteration was accomplished and the amount confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $1078 low to $1229 high.
On the downside, there is a key bullish trend band basic with abutment at $1145 on the alternate blueprint of ETH/USD. At the moment, the brace is testing the 50% Fib retracement akin of the aftermost beachcomber from the $1078 low to $1229 high. It is award bids abreast the $1155-60 abutment area. It seems like the accepted amount activity is bullish aloft the $1120 level. The trend band abutment at $1145 may be advised as a aloft buy area in the abbreviate term. As continued as the brace is aloft the $1120 axis level, it remains in an uptrend.
On the upside, an antecedent attrition is abreast the $1200 level. A breach aloft $1200 could advance the amount appear $1225-30 in the abreast term.
Hourly MACD – The MACD is aback in the bullish zone.
Hourly RSI – The RSI is currently about the 50 akin and is assuming absolute signs.
Major Support Level – $1120
Major Resistance Level – $1200
Charts address – SimpleFX
