Ethereum (ETH) Price Could Break $175 As Bitcoin Climbs Towards $6.4K
technical analysis

Ethereum (ETH) Price Could Break $175 As Bitcoin Climbs Towards $6.4K

THELOGICALINDIAN - Ethereum amount is trading alongside with absolute signs against the US Dollar but beneath added vs bitcoin ETH charcoal accurate aloft 164 and it ability anon ascend aloft 172 and 175

Ethereum Price Analysis

In the accomplished three sessions, there were mostly ambit moves in Ethereum amount aloft $164 adjoin the US Dollar. The ETH/USD brace boring confused college and bankrupt the $168 attrition and the 100 alternate simple affective average. There was additionally a breach aloft the $170 level, but the amount struggled abreast $173 additional the 50% Fib retracement akin of the downside move from the $180 aerial to $164 low. The amount aloof from the $173 beat aerial and revisited the $165 abutment area.

Recently, it bounced aback aloft $168 and the 100 alternate SMA. Moreover, there was a breach aloft a key bearish trend band with attrition at $168 on the alternate blueprint of ETH/USD. The brace traded aloft the 61.8% Fib retracement akin of the contempo accelerate from the $173 aerial to $165 low. However, the beasts assume to be disturbing to accretion bullish drive aloft $172 and $173. ETH amount is currently trading in a ambit and it could alike dip a few credibility appear the $167 or $165 support.

To alpha a solid advancement move, the amount charge bright the $172 and $173 levels. However, the capital attrition is abreast $175, aloft which the amount could barter appear the $180 attrition level. On the downside, an antecedent abutment is at $167, beneath which the amount ability retest the $165 abutment level.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum amount seems to be trading in a ambit beneath the $172 attrition area. There could be a brace of beat moves, but because the contempo assemblage in BTC, ETH could additionally alpha a appropriate advancement move aloft $172 and $175. A acknowledged abutting aloft the $175 akin is acceptable to accessible the gates for a able advance appear the $180 and $185 attrition levels.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is mostly collapsed in the bullish zone.

Hourly RSIThe RSI for ETH/USD confused aloft the 50 akin and it is currently abreast the 54 level.

Major Support Level – $165

Major Resistance Level – $172