THELOGICALINDIAN - Ethereum amount climbed college aloft key levels against the US Dollar forth with bitcoin ETH charcoal able-bodied bid and it seems like buyers could advance the amount appear 180 and 182
Ethereum Price Analysis
Yesterday, we saw a able backlash in Ethereum amount aloft the $162 and $165 attrition levels adjoin the US Dollar. The ETH/USD brace alike activated the $170 attrition akin and acclimatized aloft 100 alternate simple affective average. Finally, the amount bankrupt the $169 and $170 attrition levels to extend the assemblage appear the $175 akin (as discussed in yesterday’s analysis). The amount activated the $174 akin and it is currently accumulation assets beneath $175.
An antecedent abutment is abreast $172 and the 23.6% Fib retracement akin of the contempo beachcomber from the $164 beat low to $174 high. On the downside, there are abounding supports abreast the $170 and $169 levels (the antecedent resistances). There is additionally a solid bullish trend band formed with abutment at $168 on the alternate blueprint of ETH/USD. The trend band coincides with the 50% Fib retracement akin of the contempo beachcomber from the $164 beat low to $174 high. Therefore, if the amount corrects beneath $172, it is acceptable to acquisition abutment abreast the $168 abutment area.
On the upside, an antecedent attrition is abreast the $175 level. Should Ether buyers advance the amount aloft the $175 resistance, there could be a able move appear the $180 and $182 attrition levels. If buyers abide in action, there is alike a adventitious of a run appear the $190 attrition area.
Looking at the chart, Ethereum amount trading accurately aloft the $168, $169 and $170 abutment levels. As continued as there is no abutting beneath $168, the amount charcoal in a absolute zone. Beneath $168, the abutting abutment is at $164 and the 100 alternate simple affective average. The all-embracing amount activity is absolute and the contempo breach aloft $170 suggests that bears are acutely disturbing to advance the amount lower.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is accepting able drive in the bullish zone, with absolute signs.
Hourly RSI – The RSI for ETH/USD jumped aloft the 60 akin and it is currently abreast 75.
Major Support Level – $168
Major Resistance Level – $175
