THELOGICALINDIAN - Ethereum started a downside alteration from the 148 attrition against the US Dollar agnate to bitcoin from 8450 However ETH amount is still in an uptrend unless there is a abutting beneath 135
Ethereum Price Holding Support
After a abiding rise, Ethereum begin attrition abreast the $148-$150 area adjoin the US Dollar. As a result, ETH amount started a downside alteration beneath the $145 and $142 abutment levels.
Besides, bitcoin is bottomward added than 5% and it bootless to break aloft the $8,100 and $8,080 abutment levels. On the added hand, ripple amount is still captivation the $0.2050 and $0.2000 abutment levels.
During the contempo slide, this week’s followed bullish trend band was breached with abutment abreast $142 on the alternate blueprint of ETH/USD. Ethereum amount alike beneath beneath the $138 abutment and the 100 alternate simple affective average.
It is now boring convalescent and trading aloft the $140 level. An actual attrition is abreast the $142 level. The 50% Fib retracement akin of the contempo abatement from the $148 aerial to $137 low is additionally abreast $142 to assure gains.
The aboriginal key attrition is abreast the $145 level. Moreover, the 76.4% Fib retracement akin of the contempo abatement from the $148 aerial to $137 low is additionally abreast $145.
Therefore, a bright breach aloft the $145 attrition will best acceptable advance Ethereum added college aloft the $146 and $148 levels. The capital ambition for the beasts is still aloft the $150 level.
Bearish Case for ETH
The capital supports on the downside are abreast $135. If ETH amount fails to break aloft the $135 abutment area, there is a accident of a downside extension. The abutting key abutment is abreast the $128 zone.
Looking at the chart, Ethereum amount is trading aloft a brace of important supports abreast $135. As continued as the beasts assure $135, there are affairs of a abiding access aloft the $142 and $145 levels in the abreast term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring affective into the bullish zone.
Hourly RSI – The RSI for ETH/USD is now beneath the 50 level, with a collapsed bias.
Major Support Level – $135
Major Resistance Level – $145
