THELOGICALINDIAN - Key Highlights
Ethereum amount is placed accurately aloft key supports adjoin the US Dollar and bitcoin. ETH/USD is acceptable to boring move college as continued as it is aloft $146.
After testing the $159-160 resistance, ETH amount started a downside alteration adjoin the US Dollar. The ETH/USD brace beneath beneath the $156, $155 and $150 abutment levels. There was a analysis of the $146 abutment area, area buyers emerged. Later, the amount started a beginning advancement move and traded aloft the $150 level. There was a breach aloft the $152 akin and the 100 alternate simple affective average. Moreover, the amount austere the 23.6% Fib retracement akin of the contempo abatement from the $160 aerial to $146 low.
However, there is a able attrition formed abreast $154-155. Besides, there is a abutting bearish trend band formed with attrition at $154 on the alternate blueprint of ETH/USD. An antecedent attrition is abreast the $153 zone. It represents the 50% Fib retracement akin of the recent decline from the $160 aerial to $146 low. If there is a breach aloft the $153 and $154 attrition levels, the amount may ascend appear the $157 level. It is abutting to the $156.50 axis akin and the 76.4% Fib retracement akin of the contempo decline.
Looking at the chart, ETH amount is acutely captivation the $146 abutment actual well. In the abbreviate term, there could be ambit moves aloft $146 and $148 afore an upside break. A able abutting aloft $154 and $157 is bare for an upside acceleration. On the downside, the capital supports are $150 and $146.
Hourly MACD – The MACD for ETH/USD is aback in the bullish zone, suggesting a nice advancement move.
Hourly RSI – The RSI for ETH/USD is now able-bodied aloft the 50 level, with a collapsed bias.
Major Support Level – $146
Major Resistance Level – $154
