THELOGICALINDIAN - Ethereum amount is boring convalescent college adjoin the US Dollar and bitcoin However there are abounding hurdles for ETH buyers abreast the 138 and 139 levels
Ethereum Price Analysis
Recently, we saw a aloft bead in ETH amount beneath the $134 abutment akin adjoin the US Dollar. The ETH/USD brace traded abutting to the $132 abutment akin and after started a appropriate recovery. It climbed aback aloft the $134 and $135 attrition levels. There was additionally a abutting aloft the $135 akin and the 50% Fib retracement akin of the contempo abatement from the $140 beat aerial to $132 low. However, there are still abounding hurdled for buyers on the upside, starting with $137 and catastrophe abreast $140.
The amount is currently trading abreast the $137 resistance and the 100 alternate simple affective average. Besides, the 61.8% Fib retracement akin of the contempo abatement from the $140 beat aerial to $132 low is additionally abreast the $137 level. On the upside, there is a able attrition formed abreast the $138 level. There is additionally a acute bearish trend band formed with attrition at $138 on the alternate blueprint of ETH/USD.
Below the trend line, the 76.4% Fib retracement akin of the contempo abatement from the $140 beat aerial to $132 low is positioned. Therefore, if the amount continues to move higher, it could face sellers abreast the $137 and $138 levels. The abutting capital attrition is abreast the $140 level, which prevented assets on abounding occasions recently. On the downside, an antecedent abutment is at $135. A breach beneath the $135 akin may advance the amount aback appear the $132 level.
Looking at the chart, ETH amount is boring aggressive aerial and affective aback in the key $130-140 range. It may abide to acceleration appear the ambit resistance, but a breach aloft $138 and $140 won’t be easy. There are alike affairs of a beginning bead beneath $135 afore the amount climbs college appear $140.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is assuming absolute signs and it could move into the bullish zone.
Hourly RSI – The RSI for ETH/USD is now able-bodied aloft the 50 akin and it is affective college appear the 60 level.
Major Support Level – $135
Major Resistance Level – $137
