THELOGICALINDIAN - Ethereum amount is captivation a brace of key supports against the US Dollar and bitcoin ETH amount is acceptable to ascend aloft 152 as continued as it is aloft 146
Ethereum Price Analysis
Recently, we saw a fresh decrease in Ethereum afterwards it bootless to ascend aloft the $158 attrition breadth adjoin the US Dollar. ETH amount traded beneath the $150 abutment breadth and the 100 alternate simple affective average.
However, the $145 and $146 levels provided support. A beat low was formed abreast $146 and the amount started acclimation contempo losses. It recovered aloft the $150 level, but it struggled to bright the $152 resistance.
Finally, there was addition analysis of the $146 abutment and the amount is currently accumulation in a range. Moreover, the amount is trading aloft the 23.6% Fib retracement akin of the contempo abatement from the $152 aerial to $147 low.
An actual attrition is abreast the $150 akin and the 100 alternate simple affective average. Besides, there is a new abutting bearish trend band basic with attrition abreast $150 on the alternate blueprint of ETH/USD.
The 50% Fib retracement akin of the contempo abatement from the $152 aerial to $147 low is additionally abreast the trend band resistance. If there is a bright breach aloft the $150 resistance, Ethereum amount could abide to rise.
Therefore, a breach aloft the trend band and the 100 alternate simple affective boilerplate could advance the amount appear the $152 attrition levels. If the beasts accretion clip aloft the $152 resistance, the amount is acceptable to advance higher.
The abutting key resistances are abreast the $158 and $160 levels. Conversely, the amount could attempt to abide aloft $150 and $150 resistances. In the mentioned case, it may conceivably retest the $146 support.
Looking at the chart, Ethereum amount is acutely trading abreast a brace of key hurdles such as $150 and $152. Thus, it could either assemblage aloft $152 or attack a downside breach beneath the $146 abutment area. The abutting above abutment is abreast the $142 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring affective in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently aloft the 50 level, with a bullish angle.
Major Support Level – $146
Major Resistance Level – $152
