THELOGICALINDIAN - Ethereum amount acquired heavily adjoin the US Dollar and Bitcoin and now ETHUSD may anon breach 130 for added assets in the abreast term
Ethereum Price Buy Dips
In the aftermost account analysis, we analyzed a crucial bearish trend line with attrition abreast $88 on the 4-hours blueprint of ETH/USD. We were cat-and-mouse for a breach aloft $90 in ETH amount adjoin the US Dollar for added gains. The amount did breach the 61.8% Fibonacci retracement akin of the aftermost abatement from the $100.80 aerial to $70.00 low to burn an upside move. There were aciculate gains, as the amount climbed aloft the $100, $110 and $120 levels.
A new best aerial was formed abreast $127.95 (data augment via SimpleFX). The amount is currently trading abreast $124 and consolidating. An antecedent abutment on the downside is about $117. It additionally coincides with the 23.6% Fib retracement akin of the last wave from the $82.35 low to $127.95 high. If the brace dips from the accepted levels, it may acquisition abutment abreast $120 or $117.
One may accede affairs dips abreast $120 in the abreast term. The all-embracing trend is bullish, as there are two bullish trend curve formed with abutment at $99 and $65 on the circadian blueprint of ETH/USD. The brace may anon breach college and ascend aloft $128. If buyers abide in action, there can be a breach aloft $130 for a move appear $135-138 soon.
Daily MACD – The MACD is placed acerb in the bullish zone.
Daily RSI – The RSI is in the overbought levels.
Major Support Level – $117.00
Major Resistance Level – $130.00
Charts address – SimpleFX
