Ethereum (ETH) Rebound Faces Major Hurdle Near $180

THELOGICALINDIAN - Ethereum amount is currently convalescent college against the US Dollar agnate to bitcoin However ETH amount charge achieve aloft 180 to abide college in the abreast term

Ethereum Price Analysis

Yesterday, we saw an continued abatement in Ethereum beneath the $180 abutment adjoin the US Dollar. Moreover, ETH amount acclimatized beneath the $180 abutment and the 100 alternate simple affective average. The abatement was such that the amount traded abutting to the $170 level. A beat low was formed abreast $171 afore the amount started an upside correction. It recovered aloft the $174 and $175 resistances.

Additionally, this week’s followed aloft bearish trend line was breached with attrition abreast $174 on the alternate blueprint of ETH/USD. The brace climbed aloft the 23.6% Fib retracement akin of the aftermost abatement from the $188 aerial to $171 low. Finally, the amount acicular aloft the $178 attrition area. However, the advancement move is adverse hurdle abreast the $180 attrition and the 100 alternate simple affective average.

Moreover, the amount bootless to analysis the 50% Fib retracement akin of the aftermost abatement from the $188 aerial to $171 low. Ethereum aloof from highs and it is currently trading beneath $178. It seems like the $180 breadth and the 100 alternate SMA are acute barriers. Therefore, a acknowledged abutting aloft $180 could advance the beasts to abide college in the abreast term.

If not, there is a accident of addition abatement beneath the $175 level. The capital abutment is abreast the $172 and $170 levels. If there are added downsides, the amount is acceptable to advance its abatement beneath the $165 level. The abutting key abutment is abreast the $160 level.

Looking at the chart, Ethereum amount is adverse a able attrition abreast the $180 akin and the 100 alternate SMA. If there is a acknowledged abutting aloft $180, the amount could balance appear the $185 level. An average attrition is abreast the 61.8% Fib retracement akin of the aftermost abatement from the $188 aerial to $171 low.