THELOGICALINDIAN - Ethereum is trading accurately aloft the 192 and 200 abutment levels adjoin the US Dollar ETH amount could alpha a able assemblage if it clears the 210 and 215 attrition levels
Ethereum Price Eyeing Another Rally
This accomplished week, Ethereum bootless to bright the key $215 attrition breadth adjoin the US Dollar. ETH amount started a awful abatement and bankrupt the key $202 and $200 abutment levels.
The amount alike acicular beneath the $195 akin and the 100 simple affective boilerplate (4-hours). Ether activated a major abutment area at $192, area the beasts took a able stand.
A low is formed abreast $191 and the amount started addition advancement move. It surpassed the $200 and $202 attrition levels. Besides, there was a breach aloft the 50% Fib retracement akin of the capital bead from the $215 beat aerial to $191 beat low.
Ethereum is now trading aloft the $205 akin and the 100 simple affective boilerplate (4-hours). It is adverse a above attrition abreast the $210 level. There is additionally a acute application triangle basic with attrition abreast $210 on the 4-hours chart of ETH/USD.
The triangle trend band coincides with the 76.4% Fib retracement akin of the capital bead from the $215 beat aerial to $191 beat low. If the beasts are able to bright the triangle attrition at $210, it could alike beat the capital $215 attrition level.
A acknowledged breach aloft the $215 attrition area may conceivably alpha a abiding acceleration appear the $220 and $230 attrition levels. Any added assets ability alarm for a analysis of the $250 attrition area in the abreast term.
Bearish Break?
If Ethereum fails to abide aloft the $210 and $215 attrition levels, there are affairs of anther bead in the abreast term. An antecedent abutment is abreast the $203 akin and the 100 simple affective boilerplate (4-hours).
The capital abutment is abreast the $200 akin and the triangle support, beneath which the amount is acceptable to advance lower appear the $192 abutment zone.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is boring accident clip in the bullish zone.
4 hours RSI – The RSI for ETH/USD is currently able-bodied aloft the 50 level.
Major Support Level – $200
Major Resistance Level – $210
Take advantage of the trading opportunities with Plus500
Risk disclaimer: 76.4% of retail CFD accounts lose money.
