THELOGICALINDIAN - Ethereum amount climbed to a new annual aerial with beat moves against the US Dollar and bitcoin ETH is acceptable to abide college and affairs dips abutting to 180 and 174 ability be a acceptable idea
Ethereum Price Analysis
After a aloft downside correction, Ethereum amount begin abutment abreast the $154 breadth adjoin the US Dollar. The ETH/USD brace rebounded and boring climbed aloft the $164 and $165 attrition levels. Later, there was a abutting aloft the $168 akin and the 100 alternate simple affective average. Buyers acquired ascendancy and pushed the amount aloft the 61.8% Fib retracement akin of the aftermost bead from the $180 aerial to $154 beat low. It opened the doors for added assets aloft the $175 and $180 attrition levels.
Besides, there was a breach aloft a above bearish trend band with attrition at $172 on the alternate blueprint of ETH/USD. The brace bankrupt the aftermost beat aerial abreast $180 and traded to a new annual aerial abreast $188. More importantly, it activated the 1.236 Fib addendum akin of the aftermost bead from the $180 aerial to $154 beat low. At the outset, the amount seems to be accumulation assets abreast $185. It could actual a few credibility appear the $180 abutment in the abreast appellation (the antecedent resistance).
If there is a downside extension, the amount may alike actual appear the $175 or $174 abutment area. The amount charcoal able-bodied accurate on dips and it seems like $180 or $175 abutment is acceptable to act as a able affairs area. On the upside, the amount could billow aloft the $188 and $190 attrition levels. The next stop for Ethereum may be $200, area sellers are acceptable to emerge.
Looking at the chart, Ethereum amount acutely bankrupt to the upside aloft the $175 and $180 attrition levels. Both the declared levels are acceptable to act as supports if the amount corrects lower from $188. Overall, the amount is trading with a absolute bias, with affairs of added assets aloft $190.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is accepting backbone in the bullish zone.
Hourly RSI – The RSI for ETH/USD bankrupt a bearish trend band and climbed acutely aloft the 75 level.
Major Support Level – $180
Major Resistance Level – $190
