THELOGICALINDIAN - Ethereum amount acquired solid clip adjoin the US Dollar and Bitcoin and it looks like ETHUSD is gunning for the 250 level
Ethereum Price Uptrend Intact
Yesterday, I accent a major accumbent resistance at $191 in ETH amount adjoin the US Dollar. A breach aloft was appropriate for added assets aloft $200. The amount did breach $191, and additionally managed to affected all offers abreast $200. It afire a aciculate upside move and took the amount to a new aerial at $228.50. Earlier, there was a accessory dip appear the $185-188 levels area the amount begin abutment and bounced sharply.
After ambience a aerial at $228.50, the amount started a correction. However, there are abounding supports like $208 cat-and-mouse on the downside to authority losses. There is a acute ascendance approach basic with abutment at $205 on the alternate blueprint of ETH/USD. It can be apparent as a major uptrend support at $205-208. As continued as the amount is aloft $200, there can be at atomic a retest of $228.50. The $208 abutment is additionally abreast the 23.6% Fib retracement akin of the aftermost beachcomber from the $136.40 low to $228.50 high.
So, if there is a alteration appear $205-208, the amount may acquisition abutment for addition upside move. On the upside, a breach aloft $228-230 could calmly accessible the gates for a move appear $250.
Hourly MACD – The MACD is affective accurately in the bullish zone.
Hourly RSI – The RSI is currently at 62 and acclimation acute overbought levels.
Major Support Level – $205
Major Resistance Level – $228
Charts address – SimpleFX
