[newsbtc market analysis] will ETH rebou
2018-06-26 10:26:41source：Bit news203
ETH prices fell further, breaking below the $440 mark, and then rebounded.
On the ETH/USDT hourly chart, there is an important bearish trend line, with a resistance level of US $460 (data from Kraken).
ETH is now striving to break through the trend line and the resistance level of US $460-470.
As long as the price is below 470 US dollars, ETH is still on a downward trend.
ETH price analysis:
ETH failed to keep the $455 and $450 support, falling below $440, close to $420; then, the price went up, up to $440, but still far below the 100 hour moving average. In the recent rally, prices broke through the last 50%Fib decline (from $483 to $420).
However, the upside is limited by $460. On the ETH/USDT hourly chart, there is an important bearish trend line, with a resistance level of US $460. The trend line also acted as a resistance level, which was 483 US dollars and 470 US dollars respectively. In addition, the last drop in the 61.8%Fib retreat (from a 483 dollar high to a low of $420) is also close to the trend line resistance position; it is clear that the price is difficult to break through the trend line resistance position of $460. On the downside, support is near $440 and $420; after that, prices may test the $400 mark.
Nearby; after that, the price may test the $400 mark.
The above figure shows that the price must break through the trend line resistance level of $460 to start a big rebound; after that, the next resistance level is $483, followed by $500.
MACD:MACD is going back to the drop area every hour.
RSI:RSI is neutral (50) per hour.
Main support position: $420;
Main resistance: $460.