Ethereum (ETH) Price Looks Set To Break $175-$180
technical analysis

Ethereum (ETH) Price Looks Set To Break $175-$180

THELOGICALINDIAN - Ethereum amount is captivation the arena against the US Dollar and bitcoin ETH seems to be afterward a bullish aisle and it may advance aloft the 175 attrition in the abreast term

Ethereum Price Analysis

Recently, we saw a aciculate downside alteration in Ethereum amount from the $178 beat aerial adjoin the US Dollar. The ETH/USD brace bankrupt the $170 abutment akin and traded abutting to the $165 abutment area. A beat low was formed at $166 and the amount bounced aback in the accomplished three sessions. There was a breach aloft the $169 and $170 attrition levels, blame the amount aback in a absolute zone. The amount alike acclimatized aloft the $170 akin and the 100 alternate simple affective average.

The beasts pushed the amount aloft the 50% Fib retracement akin of the aftermost abatement from the $178 aerial to $166 low. The amount traded abutting to the $174 level, area sellers emerged. Besides, the amount activated the 61.8% Fib retracement akin of the aftermost abatement from the $178 aerial to $166 low. At the moment, there is a key ascendance approach in abode with abutment at $170 on the alternate blueprint of ETH/USD. The brace seems to be trading accurately aloft the $170 akin and the 100 alternate SMA.

As continued as the amount is aloft the $169 and $170 abutment levels, there could be added assets in the abreast term. On the upside, a breach aloft the $175 attrition is acceptable to accessible the doors for added gains. The abutting stop for the beasts could be $180, area sellers ability appear. On the added hand, a breach beneath the $169 axis akin may advance the amount aback appear the $166 level.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum amount is trading with a absolute bent aloft the $169 and $170 abutment levels. The accepted amount activity indicates an continued advancement move aloft the $174 level. Once buyers accretion clip aloft $175, there could be a aciculate assemblage appear the $180 and $182 levels.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is about to accretion backbone in the bullish zone, with absolute signs.

Hourly RSIThe RSI for ETH/USD is currently placed accurately aloft the 50 level, with a bullish angle.

Major Support Level – $169

Major Resistance Level – $175