THELOGICALINDIAN - Ethereum amount climbed acutely aloft 220 against the US Dollar and recovered a few credibility vs bitcoin ETH amount is acceptable to abide college and the beasts are acceptable to ambition the 240 akin next
Ethereum Price Analysis
Yesterday, we discussed the affairs of an upside breach in Ethereum amount aloft $210 adjoin the US Dollar. The ETH/USD brace formed a appropriate abutment abject abreast the $200 akin and after climbed aloft the $210 attrition level. The beasts acquired drive aloft $215 and the amount remained able-bodied aloft the 100 alternate simple affective average. As a result, there was a breach aloft the $220 akin and the amount activated the aboriginal bullish ambition abreast $224-225. A beat aerial was formed abreast $225 and the amount is currently acclimation lower.
An actual abutment is abreast the $215 level. The abutting abutment is abreast $212 and the 50% Fib retracement akin of the contempo beachcomber from the $200 beat low to $225 high. There is additionally a new abbreviate appellation bullish trend band basic with abutment abreast $209 on the alternate blueprint of ETH/USD. The trend band abutment coincides with the 61.8% Fib retracement akin of the contempo beachcomber from the $200 beat low to $225 high. The capital abutment is abreast the $204 akin (the contempo attrition area).
On the upside, a breach aloft the $225 akin could accessible the doors added gains. An actual attrition may be $230, aloft which the amount is acceptable to billow appear the abutting bullish ambition at $240. The accepted amount activity indicates a abbreviate appellation downside correction, but the beasts are acceptable to assure $215 or $212.
Looking at the chart, Ethereum amount is acutely accepting clip aloft key levels such as $200 and $210. As continued as the amount stays aloft the $200 axis level, it is acceptable to abide college in the advancing sessions. If there is a downside breach beneath $200, the amount could alpha a above alteration appear $185.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently affective accurately in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently acclimation lower from the 70 level, with a absolute bias.
Major Support Level – $212
Major Resistance Level – $225
