THELOGICALINDIAN - Ethereum amount formed a abject afterwards yesterdays dip adjoin the US Dollar and Bitcoin and now ETHUSD is afterward a nice uptrend
Ethereum Price Heading Higher
Recently, there was a dip appear $135-140 in ETH amount adjoin the US Dollar. Later, it formed a acceptable abject at $140 and started an upside move. First, there was a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $171.76 aerial to $136.70 low. It accomplished a appropriate recovery, and the amount managed to move aloft the $150 resistance.
The best allotment was a breach aloft yesterday’s accent bearish trend band at $159 on the alternate blueprint of ETH/USD. Moreover, the amount climbed aloft the 50% Fib retracement akin of the aftermost abatement from the $171.76 aerial to $136.70 low. At the moment, the amount is afterward an ascendance approach arrangement with abutment at $162 on the alternate chart. As continued as the amount is central the pattern, it may climb appear $170 or ability alike breach it.
The abutting hurdle on the upside is about the 76.4% Fib retracement akin of the aftermost abatement from the $171.76 aerial to $136.70 low at $171.13. If buyers administer to breach it, a retest of $181.00 is actual acceptable in the abreast term. On the downside, we can accumulate a watch on the $162 and $155 abutment levels.
Hourly MACD – The MACD is aback in the bullish zone.
Hourly RSI – The RSI is now placed able-bodied aloft the 50 level, and branch higher.
Major Support Level – $162.00
Major Resistance Level – $171.00
Charts address – SimpleFX
