THELOGICALINDIAN - Ethereum traded to a new account aerial abreast 249 afore acclimation lower adjoin the US Dollar ETH amount is currently trading accurately aloft 253 and it could assemblage afresh appear 250
Ethereum Price Holding Key Supports
This accomplished week, Ethereum continued its acceleration aloft the $240 attrition adjoin the US Dollar. ETH amount traded abutting to the $250 attrition akin and acclimatized able-bodied aloft the 100 simple affective boilerplate (4-hours).
Ether traded as aerial as $249 and started a beginning downside alteration (similar to bitcoin). There was a breach beneath the $242 and $240 abutment levels, but the $235 abutment area acted as a able buy region.
The amount is currently ascent and trading aloft the 23.6% Fib retracement akin of the downside alteration from the $249 beat aerial to $235 low. It is currently adverse a able attrition abreast the $240-$242 region.
There is additionally a acute application triangle basic with attrition abreast $242 on the 4-hours blueprint of ETH/USD. The triangle attrition coincides with the 50% Fib retracement akin of the downside alteration from the $249 beat aerial to $235 low.
If there is a acknowledged breach aloft the triangle attrition at $242, the amount is acceptable to alpha a beginning increase. The main attrition on the upside is still abreast the $250 level, aloft which the amount could alpha a able assemblage appear $262 and $265.
Fresh Decline in ETH?
If Ethereum fails to abide college aloft the $240 and $242 attrition levels, there are affairs of a downside break. The aboriginal above abutment is abreast the triangle lower trend band at $238.
The mains abutment is abreast the $235 akin and the 100 simple affective boilerplate (4-hours), beneath which the amount could dive acutely appear the $$220 abutment area.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is accident drive in the bearish zone.
4 hours RSI – The RSI for ETH/USD is currently aloof aloft the 50 level.
Major Support Level – $235
Major Resistance Level – $242
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