THELOGICALINDIAN - Ethereum amount charcoal in a appropriate uptrend adjoin the US Dollar but in declivity adjoin bitcoin ETH is disturbing to chase BTCs acceleration but it may anon ascend higher
Ethereum Price Weekly Analysis
This accomplished week, Ethereum amount formed a appropriate abutment abject aloft the $150 akin adjoin the US Dollar. The ETH/USD brace started an advancement move afterwards bitcoin amount started a able acceleration aloft $5,500. There was a able beachcomber aloft the $155 and $156 attrition levels. The amount alike bankrupt the $160 akin and acclimatized aloft the 100 simple affective boilerplate (4-hours). The beasts pushed the amount appear the $170 level, area sellers emerged.
As a result, there was a downside alteration beneath the $166 and $165 levels. The 50% Fib retracement akin of the aftermost beachcomber from the $154 beat low to $169 beat aerial was breached. Ether amount activated the $158-160 abutment area, area the bulls adequate added losses. It seems like the 76.4% Fib retracement akin of the aftermost beachcomber from the $154 beat low to $169 beat aerial acted as a support. Added importantly, the amount is still aloft $160 and the 100 simple affective boilerplate (4-hours).
There is additionally a aloft application triangle in abode with attrition abreast $167 on the 4-hours blueprint of ETH/USD. If there is an upside breach aloft the $165 and $166 levels, the amount is acceptable to bullwork college appear the $169 and $170 levels. Aloft the $170 beat high, the amount is acceptable to assemblage appear the $180 level. On the added hand, if there is a downside breach beneath the $158 support, the amount could alpha addition bead to $150.
The aloft chart indicates that Ethereum is trading aloft a few important supports abreast $158. Besides, as continued as the amount is aloft the 100 SMA, there are aerial affairs of an upside breach aloft $170 and $172. The capital ambition for the beasts could be $180, area sellers are acceptable to avert a run appear the $200 level.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is currently boring affective in the bearish zone.
4 hours RSI – The RSI for ETH/USD afresh confused aback aloft the 50 level, with a absolute angle.
Major Support Level – $158
Major Resistance Level – $166
