THELOGICALINDIAN - Ethereum amount started a able advancement move against the US Dollar and bitcoin ETH is acceptable to abide in an uptrend and it could alike ambition a breach aloft the 185 and 192 resistances
Ethereum Price Analysis
Yesterday, we saw a downside addendum in Ethereum amount beneath the $165 akin adjoin the US Dollar. The ETH/USD brace activated the key $160 abutment area, area the beasts dedicated added losses. As a result, there was a able advancement move and the amount climbed aback aloft the $162 and $165 attrition levels. There was a change in the trend, with a abutting aloft the $165 akin and the 100 alternate simple affective average.
During the rise, there a breach aloft a application triangle with attrition abreast $162 on the alternate blueprint of ETH/USD. The brace rallied aloft the $165, $168 and $170 attrition levels. It alike austere $175 and traded to a new account aerial abreast the $180 level. At the moment, the amount is accumulation assets aloft the $175 level. An actual abutment is abreast $175, and the 23.6% Fib retracement akin of the contempo beachcomber from the $160 low to $180 high. If there is a downside extension, the amount could analysis the key $169 abutment level.
The mentioned $169 akin was a attrition afresh and it may now accommodate support. The 50% Fib retracement akin of the contempo beachcomber from the $160 low to $180 aerial is additionally abreast the $169 level. On the upside, the capital attrition is abreast the $180-181 zone. A bright abutting aloft $180 may accessible the doors for a advance aloft the $185 and $192 attrition levels.
Looking at the chart, Ethereum amount acutely jumped acutely from the $160 abutment area. The accepted amount activity is absolute and it seems like the amount may abide to acceleration aloft the $180 attrition level. The beasts may alike ambition the capital $200 akin in the advancing days. On the downside, the contempo barriers are acceptable to act as supports such as $175, $170 and $169.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently abbreviation its bullish slope, with absolute signs.
Hourly RSI – The RSI for ETH/USD is currently able-bodied aloft the 70 level, with a able bullish bias.
Major Support Level – $169
Major Resistance Level – $180
