THELOGICALINDIAN - Ethereum is currently convalescent from the 216 beat low adjoin the US Dollar ETH is now adverse an acclivous assignment abreast 228230 and it could resume its slide
Ethereum Price is Near Crucial Juncture
After a able abatement beneath $225, Ethereum begin abutment abreast the $215 region adjoin the US Dollar. ETH amount traded as low as $216 and afresh started an upside alteration aloft the $220 level.
The amount was able to ascend aloft the $220 and $222 attrition levels. However, ether seems to be adverse a acute attrition abreast the $228 akin and the 100 alternate simple affective average. There is additionally a above bearish trend band basic with attrition abreast $226 on the alternate blueprint of ETH/USD.
The brace is currently accumulation abreast the 23.6% Fib retracement akin of the contempo move from the $216 beat low to $228 high. An antecedent abutment is abreast the $222 akin (the contempo blemish zone).
The 50% Fib retracement akin of the contempo move from the $216 beat low to $228 aerial is additionally abreast $222. On the upside, the amount is acutely adverse a aloft hurdle abreast the $228 and $230 levels. To move into a positive zone, the beasts charge to bright the $230 attrition and achieve aloft the 100 alternate simple affective average.
Fresh Decline in ETH?
If Ethereum fails to bright the $228 and $230 attrition levels, it is acceptable to resume its decline. The $222 abutment ability anticipate the abatement in the abbreviate term.
A acknowledged breach beneath the $222 abutment area will best acceptable alpha a beginning decline. In the mentioned case, the amount could revisit the $215 abutment arena in the advancing sessions.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move into the bearish zone.
Hourly RSI – The RSI for ETH/USD is aloof aloft the 50 level, with a bearish angle.
Major Support Level – $222
Major Resistance Level – $230
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