THELOGICALINDIAN - Ethereum is trading in a able uptrend aloft the 230 axis area adjoin the US Dollar ETH amount is acceptable to abide college aloft the 245 and 250 attrition levels
Ethereum Price Could Revisit $250
Ethereum amount is afterward a bullish aisle and it recently surged aloft the $240 level. ETH amount acquired clip and surged appear the $250 attrition zone, with a abutting aloft the 100 alternate simple affective average.
A aerial was formed abreast $250 afore ether amount adapted lower. There was a breach beneath the $240 level, but the $230 akin acted as a able support. A low is formed abreast $229 and the amount is currently rising.
There was a breach aloft the $235 akin and a abutting bearish trend band on the alternate chart of ETH/USD. The amount acicular aloft the 50% Fib retracement akin of the bottomward move from the $250 aerial to $229 low.
However, the amount seems to be disturbing abreast the $240 level. It is abutting to the 61.8% Fib retracement akin of the bottomward move from the $250 aerial to $229 low. If Ethereum assets clip aloft the $240 level, it is acceptable to revisit the $250 attrition zone.
Any added assets could alpha another above rally and the amount ability breach the $260 and $265 levels in the advancing sessions.
Dips Supported in ETH
If Ethereum fails to abide aloft the $240 akin or $245, there ability be addition correction. An antecedent abutment is abreast the $235 level. The aboriginal above abutment is apparent abreast the $232 level.
There is additionally a above bullish trend band with abutment abreast $232 on the aforementioned chart. If the amount break the trend band abutment and additionally clears the $230 level, there is a accident of a beyond abatement in the abreast term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is accepting drive in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now able-bodied aloft the 50 level, with a accessory bearish angle.
Major Support Level – $232
Major Resistance Level – $245
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