Ethereum (ETH) Signaling Bullish Continuation, Bitcoin Holding Support
technical analysis

Ethereum (ETH) Signaling Bullish Continuation, Bitcoin Holding Support

THELOGICALINDIAN - Ethereum amount is trading aloft key supports against the US Dollar and bitcoin ETH amount charge break aloft 185 to abide college appear 200 in the abreast term

Ethereum Price Analysis

Yesterday, we saw a nice advancement move in Ethereum aloft the $185 attrition breadth adjoin the US Dollar. The advancement move was able as ETH alike climbed aloft the $190 akin and acclimatized aloft the 100 alternate simple affective average. Moreover, it activated the $195 attrition breadth and afresh started acclimation gains. It traded beneath the $190 abutment area.

However, the abatement was adequate by the $188 abutment area. It seems like the 50% Fib retracement akin of the advancement move from the $182 beat low to $196 aerial is acting as a support. More importantly, there is a above bullish trend band basic with abutment abreast $188 on the alternate blueprint of ETH/USD. Below the trend line, the 61.8% Fib retracement akin of the advancement move from the $182 beat low to $196 aerial is abreast the $187 level.

The abutting above abutment is abreast the $185 akin (the antecedent attrition area). Additionally, the 100 alternate SMA is positioned abreast the $185 akin to accommodate support. Therefore, the $185 abutment holds a lot of importance. If there is a downside breach beneath the $185 support, Ethereum could alpha a above alteration appear the $175 abutment breadth in the abreast term.

On the upside, an actual attrition is abreast the $193 akin and a abutting bearish trend line. However, the key attrition is abreast the $195 level. If there is an upside break, the amount could acceleration appear the $198 and $200 attrition levels.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum amount is currently accumulation aloft the $188 and $185 abutment levels. As continued as the amount is trading aloft the $185 level, it is acceptable to ascend college aloft $195. The capital ambition could be $200, aloft which the amount may conceivably beat the $205 attrition area.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is acceptable to move aback into the bullish zone.

Hourly RSIThe RSI for ETH/USD is captivation the 50 akin and it is acceptable to move higher.

Major Support Level – $188

Major Resistance Level – $195