THELOGICALINDIAN - Ethereum amount is affective college adjoin the US Dollar and Bitcoin and now ETHUSD has to bright the 208 aerial for added upsides
Ethereum Price Resistance
Yesterday, we saw how there was a recovery started from the $176 beat low in ETH amount adjoin the US Dollar. The amount after acquired drive and confused aloft the $194 attrition zone. The upside move was able as there was alike a abutting aloft the $200 level. During the upside, there was a breach aloft a concise bearish trend band at $194 on the alternate blueprint of ETH/USD. It opened the doors for added assets and the amount austere $200 and the 100 alternate simple affective average.
There was an access in affairs absorption and the amount was able to retest the aftermost beat aerial of $208. It is already afresh preventing assets as of writing. At present, the 23.6% Fib retracement akin of the aftermost beachcomber from the $188.32 low to $108.37 aerial is acting as a support. Below $203, the $200 akin may act as a support. The $200 akin additionally represents the 38.2% Fib retracement akin of the aftermost beachcomber from the $188.32 low to $108.37 high.
There is additionally a bullish trend band on the downside abreast $196 and the 100 alternate simple affective average. So, if the amount corrects lower, there are affairs of it accepting bids abreast $200 or $196.
Hourly MACD – The MACD is now in the bullish slope.
Hourly RSI – The RSI has accomplished the high breadth in the bullish area.
Major Support Level – $200
Major Resistance Level – $208
Charts address – SimpleFX
