THELOGICALINDIAN - Key Highlights
Ethereum amount is accumulation contempo assets adjoin the US Dollar and bitcoin. ETH/USD may anon breach the $160 attrition and abide to move higher.
Recently, there were bullish moves in ETH amount aloft the $145 abutment adjoin the US Dollar. The ETH/USD brace traded aloft the $150 and $154 attrition levels to move into a bullish zone. It alike acicular aloft the $160 akin and traded as aerial as $160.12. Later, it started a downside alteration and traded beneath the $157 support. It additionally confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $147 low to $160 high.
However, there are abounding supports on the downside abreast $154 and $150. Moreover, there is a acute bullish trend band formed with abutment at $148 on the alternate blueprint of ETH/USD. The 50% Fib retracement akin of the aftermost beachcomber from the $147 low to $160 aerial is an boilerplate abutment at $154. Lastly, the 100 alternate simple affective boilerplate is additionally placed abreast the $151 level. Therefore, there are abounding supports, starting with $154 and catastrophe with $145. The price is acceptable to move higher if buyers accretion absorption aloft $157 and $160. The abutting above attrition for buyers is abreast $165, which is the aftermost above beat low.
Looking at the chart, ETH amount is may consolidate in the abbreviate appellation aloft $145. However, already there is a breach and abutting aloft $160, there could be abundant gains.
Hourly MACD – The MACD is hardly placed in the bullish zone.
Hourly RSI – The RSI is currently placed aloft the 50 level.
Major Support Level – $148
Major Resistance Level – $160
