Ethereum (ETH) & Ripple (XRP) Surge Sparks Fresh Rally In Altcoins
technical analysis

Ethereum (ETH) & Ripple (XRP) Surge Sparks Fresh Rally In Altcoins

THELOGICALINDIAN - Ethereum amount is up abutting to 8 and ripple surged 18 against the US Dollar while bitcoin is accumulation ETH amount could abide to bullwork college appear 225

Ethereum Price Analysis

Yesterday, there was a aciculate acceleration in ETH amount aloft the $195 attrition adjoin the US Dollar. Later, the amount alike affected the $200 akin afore starting a alliance phase. Finally, the amount bankrupt to the upside and surpassed the $200 barrier. It opened the doors for added assets aloft the $205 and $210 attrition levels. A new account aerial was formed abreast $215 afore the amount started a downside correction.

Besides, ripple amount performed absolutely able-bodied and surged added than 15%. XRP bankrupt the $0.2650 attrition (as discussed yesterday), aperture the doors for a massive advancement move. Looking at Ethereum, the amount adapted assets afresh afterwards ambience a new account aerial abreast $215. The amount beneath beneath the $210 level. Moreover, there was a breach beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $196 low to $215 high.

However, the $208 akin acted as a abutment and prevented added losses. On the downside, there are abounding supports abreast $208 and $206. There is additionally a new abutting bullish trend band basic with abutment abreast $206 on the alternate blueprint of ETH/USD. The 50% Fib retracement akin of the contempo beachcomber from the $196 low to $215 aerial is additionally sitting bound abreast the $206 level.

Therefore, the amount charcoal able-bodied accurate abreast $208 and $206. Below the $206 support, the amount could analysis the $200 abutment area. On the upside, an actual attrition is abreast the $215 level. If there is an upside breach aloft $215, the amount could abide to acceleration appear the $220 and $225 levels.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum amount is assuming a lot of bullish signs and it ability alike beat the $215 attrition level. The abutting targets for the beasts may conceivably be abreast the $225 level. On the downside, the capital supports are abreast $208 and $206.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is still assuming absolute signs in the bullish zone.

Hourly RSIThe RSI for ETH/USD is currently able-bodied aloft the 60 level.

Major Support Level – $206

Major Resistance Level – $215