THELOGICALINDIAN - Key Highlights
Ethereum amount beneath heavily during the accomplished few hours adjoin the US Dollar and bitcoin. ETH/USD could analysis $110 or $105 if it fails to balance aloft $128 and $136.
Yesterday, we saw a solid support abreast the $144-146 area for ETH amount adjoin the US Dollar. The ETH/USD brace afresh bootless to breach the $150-151 area and a bearish trend line. It resulted in a aciculate bearish acknowledgment and the amount beneath beneath the $146 and $144 supports. Sellers acquired ascendancy and pushed the amount beneath the $130 level. There was alike a abutting beneath the $130 akin and the 100 alternate simple affective average. A low was formed abreast $122 and after the amount started accumulation losses.
An antecedent attrition is the 23.6% Fib retracement akin of the contempo bead from the $151 aerial to $122 beat low. Moreover, there is additionally a abbreviate appellation bearish trend band formed with attrition at $128 on the alternate blueprint of ETH/USD. If there is a breach aloft the trend band and $128, the amount may recover further. The abutting key attrition is abreast the $126 level. The declared akin represents the 50% Fib retracement akin of the contempo bead from the $151 aerial to $122 beat low. A able abutting aloft the $136 akin is bare for a appropriate accretion in the abreast term.
Looking at the chart, ETH amount acutely fabricated a aciculate U-turn beneath the $146 support. As continued as the amount is beneath $136, there is a accident of added losses. A breach beneath $122 and $121 may advance the amount appear $110.
Hourly MACD – The MACD for ETH/USD is boring affective in the bullish zone, but the all-embracing bent is still negative.
Hourly RSI – The RSI for ETH/USD is currently convalescent from the oversold zone.
Major Support Level – $121
Major Resistance Level – $136
