THELOGICALINDIAN - Ethereum amount is aback in a declivity beneath 185 against the US Dollar agnate to bitcoin beneath 10000 ETH amount ability actual college but it is acceptable to attempt abreast 185
Ethereum Price Analysis
In the accomplished few hours, there was a aciculate abatement in Ethereum, bitcoin, ripple, and above added cryptocurrencies adjoin the US Dollar. ETH amount confused beneath the $200 and $185 abutment levels. Moreover, there was a abutting beneath the $185 akin and the 100 alternate simple affective average. The abatement was such that the amount comatose abutting to $150 on the Kraken exchange. A new account low was formed abreast $152 and the amount is currently acclimation higher.
There was a breach aloft the $165 level, additional the 23.6% Fib retracement akin of the contempo bead from the $210 aerial to $152 beat low. The amount is now trading aloft the $170 level, but there are abounding hurdles on the upside abreast the $180 and $182 levels. Moreover, there is a new above bearish trend band basic with attrition abreast $182 on the alternate blueprint of ETH/USD.
The trend band coincides with the 50% Fib retracement akin of the contempo bead from the $210 aerial to $152 beat low. More importantly, the antecedent abutment abreast the $185 akin ability already afresh act as a resistance. Above $185, Ethereum amount could balance appear the $200 attrition breadth and the 100 alternate SMA. Conversely, the amount could complete the accepted alteration abreast the $180 or $185 resistance.
An antecedent abutment on the downside is abreast the $165 level. If there is a beginning abatement beneath $165, the amount may conceivably retest the $152 low. Any added losses could advance the amount beneath the $150 abutment breadth in the advancing sessions.
Looking at the chart, Ethereum amount is acutely aback in a declivity with a abutting beneath $200 and $185. As continued as the amount is beneath the $185 and $200 resistances, it charcoal at a accident of addition bead appear the $150 abutment in the abreast term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move aback into the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently acclimation college from the 10 level.
Major Support Level – $165
Major Resistance Level – $185
