THELOGICALINDIAN - Ethereum amount may accept fabricated a shortterm top adjoin the US Dollar and Bitcoin as ETHUSD bankrupt a key abutment breadth afresh at 178
Ethereum Price Decline
Yesterday, we were attractive for a breach aloft the $191.00-191.50 resistance in ETH amount adjoin the US Dollar. The amount move aloft $191.00-191.50 and alike bankrupt the $200 level. A new aerial was formed at $203.45 area the amount struggled. Later, ETH absent the bullish momentum, and started a downside move beneath $200. The amount fell acutely and alike bankrupt the 50% Fib retracement akin of the aftermost beachcomber from the $136.74 low to $203.45 high.
The downside move was such that there was a breach of two bullish trend curve with abutment at $178 on the alternate blueprint of ETH/USD. The amount alike traded beneath the 100 alternate simple affective boilerplate at $169. It afire a aciculate decline, and the amount confused as low as $139.39. Later, a recovery was initiated, and the amount confused aback aloft $150.
There was additionally a abutting aloft the 38.2% Fib retracement akin of the aftermost abatement from the $203.45 aerial to $139.90 low. However, the accretion adjourned abreast the burst trend curve at $178. Moreover, the 61.8% Fib retracement akin of the aftermost abatement from the $203.45 aerial to $139.90 low acted as a resistance. The amount is now aback beneath the $170 support. It may already afresh attack a breach aloft $178, but actual acceptable to face difficulties. It seems like there is a concise trend change for ETH/USD with affairs of addition downside advance appear $150.
Hourly MACD – The MACD is now aback in the bearish zone.
Hourly RSI – The RSI is able-bodied beneath 50 akin and struggling.
Major Support Level – $150.00
Major Resistance Level – $178.00
Charts address – SimpleFX
