THELOGICALINDIAN - Ethereum amount is accepting absorption adjoin the US Dollar but it is disturbing adjoin bitcoin ETH is acceptable to ascend college in the abreast appellation but it may attempt abreast 164165
Ethereum Price Analysis
Yesterday, we saw a beginning downside alteration in Ethereum amount from the $163-164 area adjoin the US Dollar. The ETH/USD brace adapted lower and bankrupt the $160 abutment level. However, the 50% Fib retracement akin of the advancement move from the $150 low to $163 aerial acted as a support. Besides, the $156 akin and the 100 alternate simple affective boilerplate additionally prevented losses. There was a apocryphal spike, but the amount bound bounced aback aloft $158.
More importantly, yesterday’s accent crumbling channel was breached with attrition abreast the $158 akin on the alternate blueprint of ETH/USD. The brace bankrupt the 50% Fib retracement akin of the contempo abatement from the $163 aerial to $154 beat low. As a result, the amount is now trading with a absolute bent aloft $158. An actual attrition is abreast the $160 level. It coincides with the 61.8% Fib retracement akin of the contempo abatement from the $163 aerial to $154 beat low. If there is an upside breach aloft the $160 resistance, the amount is acceptable to ascend appear the $163-164 zone.
On the downside, the capital abutment is abreast the $156 akin and the 100 alternate SMA. If there is a able abutting beneath the 100 alternate SMA, the amount may abatement appear the $154 or $150 abutment levels. Bitcoin amount is currently up added than 3%, but it seems like ETH amount is disturbing to accretion clip aloft the $160 and $161 attrition levels.
Looking at the chart, Ethereum amount is currently placed in a absolute area aloft $158, but it charge accretion absorption aloft $160. The abutting stop for the beasts could be abreast $164 or $165. If there are added gains, there are affairs of a aciculate assemblage appear the $170 or $172 attrition level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently accepting drive in the bullish zone, with absolute signs.
Hourly RSI – The RSI for ETH/USD is now placed able-bodied aloft the 50 level, with a bullish angle.
Major Support Level – $156
Major Resistance Level – $164
