THELOGICALINDIAN - Ethereum amount is boring aggressive college against the US Dollar while bitcoin is up 5 However ETH amount is acceptable to face a able attrition abreast the 180 area
Ethereum Price Analysis
This accomplished week, Ethereum activated the $168 and $170 abutment levels on two occasions adjoin the US Dollar. However, the bears were not able to accretion backbone beneath $168. As a result, there was a abbreviate appellation upside alteration aloft the $172 resistance. Added importantly, bitcoin rallied added than 5% and climbed aloft the key $8,200 attrition area.
During the rise, ETH amount alike bankrupt the $175 attrition and the 100 alternate simple affective average. Moreover, there was a breach aloft a key bearish trend band with attrition abreast $172 on the alternate blueprint of ETH/USD. The brace activated the $177-178 breadth and it is currently accumulation gains. It is trading abreast the 23.6% Fib retracement akin of the contempo accretion from the $169 low to $176 high.
Additionally, it seems like the $175 akin and the 100 alternate SMA are acting as supports. If there are added downsides, Ethereum amount could analysis the $172 abutment area. Moreover, the 50% Fib retracement akin of the contempo accretion from the $169 low to $176 aerial is additionally abreast the $172 breadth to act as a above support. Any added losses could advance the amount aback appear the key $168 abutment area.
On the upside, there are abounding important hurdles abreast the $178 and $180 levels. To move into a absolute zone, the amount has to move aloft the $180 resistance. The abutting key attrition is abreast the $185 level, aloft which ETH could alpha a solid advancement move.
Looking at the chart, Ethereum amount is acutely convalescent and it is assuming absolute signs aloft $175. However, the amount is acceptable to abort abreast the $180 or $185 attrition area. On the downside, the $168 akin holds the key, beneath which the amount could abatement appear the $162 and $160 abutment levels in the abreast term.
ETH 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 currently able-bodied aloft the 50 level.
Major Support Level – $172
Major Resistance Level – $180
