THELOGICALINDIAN - Ethereum amount surged added than 25 against the US Dollar accompanying with bitcoin amount assemblage ETH is now trading able-bodied aloft the 165 akin and it could advance appear the 200 barrier
Ethereum Price Analysis
Yesterday, we saw a awful advancement move in bitcoin aloft the $4,800 resistance. It helped ETH amount in allowance the $150 and $155 resistances adjoin the US Dollar. The ETH/USD brace jumped added than 25% in the accomplished few sessions. Bulls took control, consistent in a aciculate advancement move aloft the $160 and $165 attrition levels. The amount alike rallied aloft the $170 attrition and acclimatized able-bodied aloft the 100 alternate simple affective average.
A new annual aerial was formed abreast $173 and the amount is still trading with a bullish angle. An antecedent abutment is abreast the $170 level. It represents the 23.6% Fib retracement akin of the contempo acceleration from the $159 beat low to $173 beat high. There is additionally a acute bullish trend band formed with abutment at $165 on the alternate blueprint of ETH/USD. The trend band coincides with the 50% Fib retracement akin of the contempo acceleration from the $159 beat low to $173 beat high.
The accepted amount activity is actual positive, suggesting added assets aloft the $172 and $173 levels. Buyers could alike ambition the $180 resistance, which is a able barrier. The abutting key attrition is abreast the $185 level, aloft which the final ambition in the accepted beachcomber could be $200. The all-embracing assemblage is acquisition drive aloft $165 and sellers are acceptable to attempt in the advancing sessions.
Looking at the chart, Ethereum amount is placed in a able uptrend aloft the $160 and $165 axis levels. The amount is already up added than 25%, with Ethereum supporters in abounding action. Therefore, dips appear the $165 and $160 levels are acceptable to acquisition a solid affairs interest. On the upside, a breach aloft the $180 akin could accessible the doors for added assets appear $200.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is accepting clip in the bullish zone, with a absolute bias.
Hourly RSI – The RSI for ETH/USD is currently able-bodied aloft the 80 level, with a bullish angle.
Major Support Level – $165
Major Resistance Level – $180
