Ethereum (ETH) Consolidating Below $190, Bitcoin Holding $9K

THELOGICALINDIAN - Ethereum amount is adverse an acclivous assignment against the US Dollar agnate to bitcoin ETH amount could abide to barter in a ambit afore the abutting move either aloft 186 or beneath 178

Ethereum Price Analysis

In the accomplished few sessions, Ethereum was apparent trading in a ambit aloft the $178 abutment adjoin the US Dollar. ETH amount fabricated a brace of attempts to alpha a beginning increase, but it faced a able attrition abreast the $185 and $186 levels.

The aftermost beat aerial was abreast $186 afore the amount beneath beneath the $182 and $180 levels. Moreover, there was a abutting beneath the $182 abutment and the 100 alternate simple affective average. A low was formed abreast $179 and the amount is currently acclimation higher.

It surpassed the 23.6% Fib retracement akin of the contempo abatement from the $186 aerial to $179 low. However, the $182 akin and the 100 alternate SMA are acting as a able hurdle for the bulls.

Additionally, the 50% Fib retracement akin of the contempo abatement from the $186 aerial to $179 low is acting as a resistance. More importantly, there is a key bearish trend band basic with attrition abreast $182 on the alternate blueprint of ETH/USD.

Therefore, an upside breach aloft the $182 attrition ability advance Ethereum amount higher. On the upside, the main resistances are abreast $185 and $186. A bright breach aloft $186 is bare for upside dispatch in the abreast term.

On the downside, an actual abutment is abreast the $180 level. If there are added downsides, the amount could revisit the ambit abutment breadth abreast the $178 level. A bright breach beneath the $178 abutment could atom added losses appear $175 and $170.

Looking at the chart, Ethereum amount is trading in a ambit aloft the $178 abutment and beneath the $186 resistance. It may conceivably abide to barter in a ambit afore the abutting move, which could be either appear the $200 barrier or the $165 abutment area.