THELOGICALINDIAN - Ethereum amount rocketed college adjoin the US Dollar and Bitcoin and the ETHUSD brace is currently acclimation lower appear 210200 afterwards the contempo rally
Ethereum Price Correction
Recently, there was a solid upside move in ETH amount aloft the $188 attrition adjoin the US Dollar. The amount bankrupt the $190 akin and traded calmly aloft the $200 handle. The upside move was sharp, as buyers took out the 61.8% Fib retracement akin of the aftermost abatement from the $223.35 aerial to $136.55 low. They alike succeeded in allowance the aftermost beat aerial of $223 and took the amount appear $225.
A account aerial was formed at $255.74 from area a alteration beachcomber started. At the moment, the amount is trading beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $136.51 low to $255.74 high. However, there is a aloft bullish trend band with abutment at $202 basic on the alternate blueprint of ETH/USD. It may act as a acute abutment aloft $200.00. Furthermore, the 38.2% Fib retracement akin of the last wave from the $136.51 low to $255.74 aerial ability additionally accommodate abutment at $210.
It looks like the amount is aback in the bullish zone, and could barter aback higher. On the upside, a breach aloft $225 is bare for a retest of $250. Aloft $250, the amount may ambition the $280 area.
Hourly MACD – The MACD is now absolutely placed in the bullish zone.
Hourly RSI – The RSI is affective lower appear the 50 level.
Major Support Level – $210
Major Resistance Level – $225
Charts address – SimpleFX
