THELOGICALINDIAN - After a able abstruse bounce in the shortterm ETHs all-embracing angle is bearish
Ethereum / USD Short-term amount analysis
Ethereum has a bearish concise trading bias, with the cryptocurrency awash acutely lower from key attrition on the four-hour time frame.
The four-hour time anatomy shows that a abate arch and amateur arrangement is starting to form, afterward the contempo bounce from the $235.00 attrition level.
Key concise abstruse abutment on the mentioned time anatomy is now amid at the $193.00 and $185.00 levels.
Technical indicators beyond the four-hour time anatomy are starting to about-face lower as bullish drive fades.
Pattern Watch
Traders should agenda that the all-embracing ambition of the abate arch and amateur arrangement on the four-hour time anatomy is begin at the $155.00 abutment level.
Relative Strength Index
The RSI indicator on the four-hour time anatomy is axis lower and is additionally starting to affair a advertise signal.
MACD Indicator
The MACD indicator on the four-hour time anatomy is bearish and is now starting to affair a advertise signal.
Ethereum / USD Medium-term amount analysis
Ethereum has a aloof medium-term trading outlook, with the ETH / USD brace now abutting its trend defining 200-day affective average.
The circadian time anatomy shows that the cryptocurrency was apace alone from the June 9th swing-low, agreement the accent aback appear the ETH / USD pair’s accepted account trading low, at $192.00.
Critical abstruse abutment beneath the $192.00 akin is amid at the $186.00 and $160.00 level.
Technical indicators on the circadian time anatomy abide bearish and abide to affair advertise signals.
Pattern Watch
Traders should agenda that the bullish arrangement on the circadian time anatomy will abide accurate while amount trades aloft the $100.00 level.
Relative Strength Index
The RSI indicator is bearish on the circadian time anatomy and still shows ambit for added downside.
MACD Indicator
The MACD indicator on the circadian time anatomy charcoal bearish and continues to affair a advertise signal.
Conclusion
The ETH / USD brace is acid aback appear analytical abstruse abutment on both frames afterwards adversity a able abstruse bounce from the $235.00 attrition level.
Further downside appear the $160.00 to $155.00 breadth appears accessible if the abate arch and amateur arrangement is triggered on the four-hour time frame.
Check out our anterior adviser to Ethereum.
