THELOGICALINDIAN - Ethereum amount is crumbling added beneath key supports against the US Dollar agnate to bitcoin ETH amount charcoal at a accident of addition bead appear the 135 and 132 levels
Ethereum Price Analysis
Recently, Ethereum fabricated a brace of attempts to ascend aloft the $150 and $152 attrition levels adjoin the US Dollar. However, ETH amount struggled to accretion drive aloft $150 and the 100 alternate simple affective average.
As a result, there was addition bearish acknowledgment beneath the $148 abutment area. Moreover, the amount bankrupt a couple of important supports abreast the $145 level. Finally, the amount traded to a new account low abreast $143 and it is currently accumulation losses.
The amount is trading abreast the 23.6% Fib retracement akin of the contempo bead from the $149 aerial to $143 low. On the upside, there are abounding resistances abreast the $146 and $148 levels.
Besides, the 50% Fib retracement akin of the contempo bead from the $149 aerial to $143 low is abreast the $146 level. It seems like the antecedent abutment abreast $146 is acceptable to act as a able hurdle for Ethereum bulls.
More importantly, yesterday’s key bearish trend band is alive with attrition abreast $147 on the alternate blueprint of ETH/USD. Therefore, a acknowledged breach aloft the $148 attrition breadth is bare for a advance aloft $150.
An boilerplate attrition is abreast $149 back the 100 alternate simple affective boilerplate is cat-and-mouse to stop the upside. On the downside, the contempo low abreast $143 is a abbreviate appellation support.
If the amount continues to move down, it could alike breach the $142 and $140 abutment levels. The capital supports are abreast the $135 and $132 levels, beneath which the beasts are acceptable to accord up in the abreast term.
Looking at the chart, Ethereum amount is acutely extending its abatement beneath the $150 and $148 levels. As continued as there is no abutting aloft the $150 resistance, the amount may conceivably abide to move bottomward appear $135.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently accepting clip in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now able-bodied beneath the 50 level, with a bearish angle.
Major Support Level – $142
Major Resistance Level – $150
