THELOGICALINDIAN - Ethereum amount mostly traded in a ambit intraday adjoin the US Dollar and Bitcoin and ETHUSD charcoal able-bodied accurate aloft the 200 level
Ethereum Price Resistance and Support
There was a slight decline in ETH amount adjoin the US Dollar beneath the $210 level. During the decline, there was a breach beneath yesterday’s application triangle arrangement with abutment at $210 on the alternate chart. However, the downside move was limited, as the $200 abutment acted as a able barrier. The best important point is ETH/USD captivation the 100 alternate simple affective boilerplate and $200 actual well.
It looks like the amount is alignment at the moment aloft the $198-200 support. On the upside, there is a abutting bearish trend band with attrition at $221 basic on the alternate chart. The brace jumped acutely aloft the 38.2% Fib retracement akin of the aftermost abatement from the $225 aerial to $198 low. It appears that the amount may anon analysis the trend band at $221. At the moment, the 61.8% Fib retracement akin of the last decline from the $225 aerial to $198 low is captivation the upside move.
A breach and abutting aloft the trend band attrition could burn a assemblage aloft $230. However, it won’t be easy, and I anticipate we may see one added dip aback appear $208-210 afore there is an attack to breach $230.
Hourly MACD – The MACD is boring affective aback in the bullish zone.
Hourly RSI – The RSI has aloof confused aloft the 50 akin with a slight advancement direction.
Major Support Level – $198
Major Resistance Level – $221
Charts address – SimpleFX
