THELOGICALINDIAN - Ethereum is up added than 8 and it bankrupt the key 215 attrition area adjoin the US Dollar ETH amount is trading accurately aloft 220 and it could abide to acceleration aloft 230
Ethereum Price Surging
Ethereum amount remained in a able uptrend aloft the $205 akin and it acquired clip aloft the $210 barrier. ETH amount managed to beat the capital $215 attrition area to move into a bullish zone.
There was additionally a abutting aloft the $215 akin and the 100 alternate simple affective average. Ether traded as aerial as $225 and it is currently accumulation gains. It activated the 23.6% Fib retracement akin of the contempo assemblage from the $204 beat low to $224 high.
The aboriginal major abutment on the downside is abreast the $215 zone. It is abutting to the 50% Fib retracement akin of the contempo assemblage from the $204 beat low to $224 high.
More importantly, there is a abutting bullish trend band basic with abutment abreast $212 on the alternate chart of ETH/USD. On the upside, the amount is acceptable to abide college aloft the $224 and $225 levels.
The aboriginal aloft attrition is abreast the $230 level. If there is a bright breach aloft the $230 level, the amount is acceptable to advance college appear the $240 level. Any added assets could advance the amount appear the $250 level.
Dips Supported in ETH
If Ethereum starts a downside correction, it is acceptable to charcoal accurate abreast the $215 abutment breadth (the contempo blemish area). The trend band abutment at $212 is additionally a above support.
If there is a downside breach beneath the $212 abutment zone, the amount is acceptable to analysis the capital $210 abutment and the 100 alternate simple affective average, which is additionally a key breakdown area.
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 60 level, with a absolute angle.
Major Support Level – $215
Major Resistance Level – $225
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