THELOGICALINDIAN - Ethereum amount is assuming a few accretion signs against the US Dollar while bitcoin is accumulation ETH amount charge beat 148 to move into a absolute zone
Ethereum Price Analysis
Recently, we saw a downside addendum in Ethereum beneath the $144 abutment breadth adjoin the US Dollar. Moreover, ETH amount bankrupt the $142 abutment breadth and the 100 alternate simple affective average.
Finally, it acicular beneath the $140 abutment and formed a new account low abreast $139. It is currently acclimation college and it surpassed the $142 attrition breadth to alpha a appropriate recovery.
Besides, there was a breach aloft this week’s key bearish trend band with attrition abreast $144 on the alternate blueprint of ETH/USD. The brace is now trading abreast the $145 attrition and disturbing to bright the 100 alternate simple affective average.
The contempo aerial is abreast $145 and the brace is testing the 23.6% Fib retracement akin of the contempo accretion from the $139 low to $145 high. If there are added losses, Ethereum amount ability actual appear the $142 abutment area.
Additionally, the 50% Fib retracement akin of the contempo accretion from the $139 low to $145 aerial is abreast the $142 level. Any added losses ability advance the amount beneath $140 and the beasts are acceptable to struggle.
On the upside, the beasts charge to accretion backbone aloft the $145 and $146 attrition levels. More importantly, a abutting aloft the $148 resistance and the 100 alternate SMA is bare for a abiding recovery.
The capital attrition is still abreast the $152 area, aloft which the amount is acceptable to alpha a solid uptrend in the advancing days. If not, it could resume its accelerate beneath $140.
Looking at the chart, Ethereum amount is assuming a few accretion signs aloft the $140 level. Having said that, the amount is disturbing to abide to aloft the $145 and $146 attrition levels, aloft which it could retest the $152 resistance.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring affective aback into the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently acclimation lower appear the 50 level.
Major Support Level – $140
Major Resistance Level – $146
