Ethereum (ETH) Reversal On Cards, Bitcoin Pump Warning Went Well
technical analysis

Ethereum (ETH) Reversal On Cards, Bitcoin Pump Warning Went Well

THELOGICALINDIAN - Ethereum amount is affective into the absolute area against the US Dollar while bitcoin already reclaimed 7000 ETH amount is acceptable to bullwork college appear 135 140 and 144

Ethereum Price Analysis

After a massive drop, Ethereum continued its abatement beneath the $120 abutment adjoin the US Dollar. ETH amount activated the $115 area and formed a new multi-month low.

However, the beasts took a able angle abreast $115, consistent in a aciculate pullback aloft $120. Moreover, bitcoin amount jumped added than 10% and rallied aloft $7,000 (as warned in yesterday’s assay – Bitcoin (BTC) Bears Remain in Driver’s Seat but Beasts Not Done Yet).

Ethereum amount recovered accurately aloft the $120 and $125 attrition levels. Besides, there was a breach aloft a abutting bearish trend band with attrition abreast $122 on the alternate blueprint of ETH/USD.

It opened the doors for added assets aloft the $130 attrition area. The amount seems to be aback in a absolute zone, but it struggled to bright the $135 attrition and the 100 alternate simple affective average.

A beat aerial is formed abreast $135 and the amount is currently acclimation lower. It is trading beneath the 23.6% Fib retracement akin of the contempo assemblage from the $115 low to $135 high.

On the downside, there are key supports basic abreast the $126 and $125 levels. Additionally, the 50% Fib retracement akin of the contempo assemblage from the $115 low to $135 aerial is abreast the $125 level.

Therefore, Ethereum is acceptable to acquisition buyers abreast the $125 zone. If there is a beginning abatement beneath $125, the amount could move aback into a abrogating area in the abreast term.

Conversely, the amount ability abide to acceleration aloft the $130 and $135 levels. The abutting ambition for the beasts could be $140 and $144.

Looking at the chart, Ethereum amount is assuming signs of an important changeabout aloft $125. More importantly, bitcoin is already up 10% and now affective accurately aloft the $7,000 level.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is currently in the bullish zone.

Hourly RSIThe RSI for ETH/USD is aback aloft the 50 level, with absolute signs.

Major Support Level – $125

Major Resistance Level – $135