THELOGICALINDIAN - Key Highlights
Ethereum amount accretion charcoal bound adjoin the US Dollar and Bitcoin. ETH/USD is adverse a lot of advertise offers abreast the $780-800 levels, which is a above resistance.
Ethereum Price Upside Hurdle
There was an addendum to yesterday’s decline in ETH amount appear the $550 akin adjoin the US Dollar. The amount bootless to break aloft the $600 akin and traded as low as $553. Later, it started an upside alteration and was able to barter aback aloft the $600 level. It bankrupt the 23.6% Fib retracement akin of the aftermost bead from the $848 aerial to $553 low. However, the amount is adverse abounding hurdles abreast the $780-800 level.
There is additionally a aloft bearish trend band basic with attrition at $780 on the alternate blueprint of ETH/USD. The trend band is acting as a aloft hurdle and preventing assets aloft $800. Moreover, the amount is adverse attrition abreast the 76.4% Fib retracement akin of the aftermost bead from the $848 aerial to $553 low. It seems like it won’t be accessible for buyers to advance the amount aloft $780 and $800. Furthermore, the 100 hourly simple affective average is additionally positioned about the $800-810 levels.
On the downside, an antecedent abutment is about the $680 level. A breach beneath the declared $680 abutment could advance the amount aback appear the $650 level.
Hourly MACD – The MACD is now aback in the bullish zone.
Hourly RSI – The RSI is affective lower appear the 50 akin and is currently weakening.
Major Support Level – $650
Major Resistance Level – $800
Charts address – SimpleFX
