Ethereum (ETH) Price Signaling Bullish Continuation Above $180
technical analysis

Ethereum (ETH) Price Signaling Bullish Continuation Above $180

THELOGICALINDIAN - Ethereum amount is captivation key abutment levels against the US Dollar and bitcoin ETH is boring aggressive college and it is acceptable to abide appear the 184 and 185 levels

Ethereum Price Analysis

Recently, there was a beginning downside alteration from the $188 beat aerial in Ethereum amount adjoin the US Dollar. The ETH/USD brace beneath beneath the $184 and $180 abutment levels. The amount alike bankrupt the $176 level, but it begin a strong affairs interest abreast the $174 level. Moreover, the 61.8% Fib retracement akin of the aftermost leg from the $164 low to $188 aerial acted as a support. The amount formed a appropriate abutment abject aloft the $174 akin and it afresh confused higher.

It bankrupt the $176 attrition and the 23.6% Fib retracement akin of the contempo bead from the $188 beat aerial to $174 low. Added importantly, there was a breach aloft a abutting bearish trend band with attrition at $177 on the alternate blueprint of ETH/USD. It opened the doors for added assets and the amount afresh activated the $180 level. It seems like the 50% Fib retracement akin of the contempo bead from the $188 beat aerial to $174 low is acting as a abbreviate appellation resistance.

If the amount corrects lower, it is acceptable to acquisition a appropriate affairs absorption abreast the $176 or $175 levels. Besides, yesterday’s accent important bullish trend band is alive with abutment at $175 on the aforementioned chart. Therefore, it seems like Ethereum charcoal able-bodied accurate on the downside abreast the $175 and $174 levels. On the upside, a breach aloft the $180 akin could advance the amount appear the $184 and $185 attrition levels.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum amount is placed accurately in a absolute area aloft the $174 beat support. Only a abutting beneath the $174 akin and the 100 alternate simple affective boilerplate could alpha a beginning decline. If not, the amount is acceptable to abide college appear $185. Aloft $185, the abutting stop for buyers could be abreast $188 or $190.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is boring accepting drive in the bullish zone.

Hourly RSIThe RSI for ETH/USD climbed college aloft the 50 and 55 levels.

Major Support Level – $175

Major Resistance Level – $185