THELOGICALINDIAN - Ethereum amount maintained a bit accent adjoin the US Dollar and Bitcoin and ETHUSD managed to achieve aloft the 208 attrition area
Ethereum Price Support
There was a decent recovery started from the $168 low in ETH amount adjoin the US Dollar. Later, a abutment abject was formed abreast $185 and the amount started a abundant recovery. Buyers were able to booty the amount aback aloft the $200 handle. Another important breach was aloft the 50% Fib retracement akin of the aftermost abatement from the $234.34 aerial to $168.58 low. It austere the aisle for a move aloft the $208 resistance.
Moreover, this week’s accent two bearish trend curve with resistances as $188 and $205 were austere on the alternate blueprint of ETH/USD. Lastly, the amount is now aloft the $210 akin and the 100 alternate simple affective average. At the moment, the amount is trading abreast the 76.4% Fib retracement akin of the last decline from the $234.34 aerial to $168.58 low.
A acknowledged abutting aloft the $220 akin could burn added assets in the abbreviate term. An antecedent attrition is abreast the $226 level, which is a axis zone. If the accepted drive stays, there is a adventitious of a breach aloft $226. On the downside, the $208 akin and the 100 alternate simple affective boilerplate ability act as a support.
Hourly MACD – The MACD is now aback in the bullish zone.
Hourly RSI – The RSI is placed able-bodied aloft the 50 akin and assuming absolute signs.
Major Support Level – $208
Major Resistance Level – $226
Charts address – SimpleFX
