THELOGICALINDIAN - Key Highlights
Ethereum amount is trading with bullish signs adjoin the US Dollar and Bitcoin. ETH/USD is positioned accurately to move aloft the contempo aerial of $648.
Ethereum Price Bullish Bias
There were further gains in ETH amount aloft the $600 akin adjoin the US Dollar. The amount was able to move aloft the $620 and $640 attrition levels and traded as aerial as $648. Later, there was a slight downside acknowledgment and the amount adapted beneath $640. There was a breach beneath the 23.6% Fib retracement akin of the aftermost upside leg from the $593 low to $648 high.
However, the downside move was adequate by the $620 abutment zone. Moreover, the 50% Fib retracement akin of the aftermost upside leg from the $593 low to $648 aerial additionally acted as a support. It seems like a accessory downside correction from the $648 aerial is complete. ETH amount is resuming its upside move and is abutting the $642-648 attrition zone. There is additionally a key bullish trend band basic with abutment at $610 on the alternate blueprint of ETH/USD. As continued as the amount is aloft $610-620, it could abide to move college and it may anon breach $648.
Looking at the chart, the amount basic a appropriate uptrend aloft $600. A acknowledged breach aloft the $648 beat aerial will best acceptable advance the amount aloft $650. The all-embracing bent is bullish with supports on the downside at $620 and $610.
Hourly MACD – The MACD is about to move aback in the bullish zone.
Hourly RSI – The RSI is currently able-bodied aloft the 50 level.
Major Support Level – $610
Major Resistance Level – $648
