THELOGICALINDIAN - Key Highlights
Ethereum amount is captivation important supports adjoin the US Dollar and bitcoin. ETH/USD could resume its advancement move appear $140 or $142 in the abreast term.
Yesterday, we discussed the affairs of ETH amount captivation the 100 alternate simple affective average adjoin the US Dollar. The ETH/USD brace did actual lower and activated the $120-121 abutment area. However, buyers were able to anticipate losses beneath $121 and the 100 alternate simple affective average. A low was formed at $121.71 and after the amount started trading in a range.
The amount crawled aback aloft the $130 level, with a absolute angle. There was a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $159 aerial to $121 low. Moreover, there was a breach aloft a abbreviate appellation bearish trend band with attrition at $130 on the alternate blueprint of ETH/USD. It has opened the doors for added assets and the amount may now barter appear $138 or $140. Besides, the 50% Fib retracement akin of the aftermost abatement from the $159 aerial to $121 low is abreast the $140 level. Therefore, if the price continues to move up, it could face attrition abreast the $140 or $142 levels.
Looking at the chart, ETH amount is captivation the $121 abutment and the 100 alternate SMA. Therefore, there could be a appropriate upside move appear $140. On the cast side, if there is a downside breach beneath $121, the amount may abatement to $112.
Hourly MACD – The MACD is boring affective in the bullish zone.
Hourly RSI – The RSI is now placed aloft the 50 level.
Major Support Level – $121
Major Resistance Level – $140
