THELOGICALINDIAN - Ethereum amount is adverse an access in affairs burden against the US Dollar and bitcoin ETH remained capped beneath 160 and it is now crumbling appear the 150 support
Ethereum Price Analysis
After a able abatement beneath $150, Ethereum amount started a abbreviate appellation upside alteration adjoin the US Dollar. The ETH/USD brace acquired absorption aloft the $154 and $155 attrition levels. The brace climbed appear the $160 level, but it struggled a lot abreast the $158 akin and the 100 alternate simple affective average. The amount topped beneath the $159 akin and recently started a beginning decline. It bankrupt the $155 and $154 abutment levels.
There was a breach beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $146 beat low to $149 beat high. Moreover, there was a breach beneath an ascendance approach with abutment at $155 on the alternate blueprint of ETH/USD. The brace activated the 50% Fib retracement akin of the contempo beachcomber from the $146 beat low to $149 beat high. On the downside, a breach beneath the $152 akin may accessible the doors for added losses beneath the $150 abutment level. The abutting key abutment is at $146, beneath which the amount may analysis $142.
On the upside, there is a key abutting bearish trend band formed with attrition at $155 on the aforementioned chart. Aloft the trend line, the capital attrition is abreast $156 and the 100 alternate SMA. A acceptable breach aloft the $156 attrition may advance the amount appear the $160 attrition level. If buyers accretion ascendancy aloft $160, the amount could date a appropriate improvement aloft the $166 level.
Looking at the chart, Ethereum amount is acutely adverse a lot of hurdles abreast the $155 and $156 levels. If there is a acknowledged abutting aloft the $156 akin and the 100 alternate SMA, the bears may footfall aback in the abbreviate term. If not, there is a accident of a aciculate abatement appear the $146 or $142 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring affective aback in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently airy college appear the 45 and 50 levels.
Major Support Level – $150
Major Resistance Level – $156
