THELOGICALINDIAN - Ethereum amount is accumulation aloft key supports adjoin the US Dollar and bitcoin ETH could pump college already it clears the 139 and 140 attrition levels in the abreast term
Ethereum Price Analysis
Earlier this week, we saw a aciculate advancement move in ETH amount aloft the $135 attrition adjoin the US Dollar. The ETH/USD brace alike traded aloft the $137 attrition and the 100 alternate simple affective average. Buyers pushed the amount appear the $140 resistance, area it faced a able affairs interest. As a result, the amount adapted lower beneath the $138 abutment level. However, the antecedent attrition akin abreast $137 prevented declines and acted as a able support.
The amount recovered afresh aloft the 23.6% Fib retracement akin of the contempo abatement from the $140 beat aerial to $137 beat low. However, the accepted amount activity suggests ambit moves as the contempo accretion was capped by the $139 level. Besides, the 50% Fib retracement akin of the contempo abatement from the $140 beat aerial to $137 beat low acted as a resistance. It seems like beasts are putting up a able action to assure the $137 abutment area. If there are added losses, the amount may analysis the $136 abutment and the 100 alternate simple affective average.
More importantly, there is a new abutting bullish trend band formed with abutment aloft $135 on the alternate blueprint of ETH/USD. Therefore, there are abounding supports on the downside abreast the $137, $136 and $135 levels. On the upside, the price charge accretion momentum aloft the $139 and $140 resistance. If buyers accretion bullish momentum, the amount is acceptable to advance aloft the $144 akin in the abreast term.
Looking at the chart, Ethereum amount is trading accurately aloft the $136-137 abutment area. In the abbreviate term, there could be ambit moves aloft the $136 akin afore the amount moves college again. On the upside, a breach aloft the $140 barrier is acceptable to accord buyers added control. In the mentioned case, the amount ability assemblage acutely aloft the $142 and $144 levels.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to jump aback in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently placed accurately aloft the 50 level.
Major Support Level – $136
Major Resistance Level – $140
