THELOGICALINDIAN - Ethereum amount recovered able-bodied adjoin the US Dollar and Bitcoin and now ETHUSD is placed able-bodied aloft a above abutment breadth at 138140
Ethereum Price Trend Line Resistance
It was a roller coaster ride for ETH amount adjoin the US Dollar, as it biconcave appear $100 and again recovered sharply. After a acrid downside move at $98.35, the amount started a recovery. It confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $203.45 aerial to $98.35 low to admit a animation back. The best accomplished was ETH affective aloft the $138-140 resistance.
The declared $140 breadth is a aloft axis area, and a abutting aloft it is actual positive. The amount has additionally confused aloft the 50% Fib retracement akin of the aftermost abatement from the $203.45 aerial to $98.35 low. At the moment, there is a bearish trend band with attrition at $164 formed on the alternate blueprint of ETH/USD. It is acting as a hurdle about $165. Moreover, the 100 hourly simple affective average is additionally at $164.
We charge a abutting aloft the 100 alternate simple affective boilerplate or $165 for added assets in the abreast term. The abutting hurdle on the upside could be at $178. It coincides with the 76.4% Fib retracement akin of the aftermost abatement from the $203.45 aerial to $98.35 low. On the downside, the best important buy breadth is abreast $138-140, which holds the key activity forward.
Hourly MACD – The MACD is currently flat, and cat-and-mouse for the abutting move.
Hourly RSI – The RSI is now aloft the 50 level.
Major Support Level – $138.00
Major Resistance Level – $165.00
Charts address – SimpleFX
