THELOGICALINDIAN - Ethereum amount acquaint solid assets adjoin the US Dollar and bitcoin ETHUSD activated the 150 attrition breadth and it may now actual lower afore a beginning bullish beachcomber in the abreast term
Ethereum Price Analysis
Yesterday, we saw a nasty advancement move from the $125 beat low in ETH amount adjoin the US Dollar. The ETH/USD brace rallied aloft the $130 and $136 attrition levels to move into a bullish zone. Later, buyers acquired absorption and pushed the amount aloft the $140 and $142 attrition levels. There was a bearish acknowledgment acclaimed abreast the $148 akin and the amount biconcave appear the $140 support. Sellers bootless to accretion momentum, consistent in a beginning advancement move aloft the $145 and $148 attrition levels. It traded abutting to the $150 attrition and acclimatized able-bodied aloft the 100 alternate simple affective average.
At present, the amount is accumulation assets aloft $145, with a few bearish moves. It bankrupt the 23.6% Fib retracement akin of the contempo beachcomber from the $134 low to $150 beat high. The aftermost alternate candle is suggesting an access in affairs burden beneath $150. However, there are abounding supports on the downside abreast the $145, $142 and $140 levels. More importantly, there is a above bullish trend band in abode with abutment at $142 on the alternate blueprint of ETH/USD.
If there is a breach beneath the trend line, the amount could analysis the $140 abutment area. It coincides with the 61.8% Fib retracement akin of the contempo beachcomber from the $134 low to $150 beat high. Any added losses could atom an extended downside correction beneath $138 and $136. To the topside, the $148 and $150 levels are able barriers for buyers in the abreast term.
Looking at the chart, ETH amount seems to be adverse abundant offers abreast $150. Therefore, there could be a brace of beat moves aloft $140 afore a beginning advancement move. Aloft $150, the abutting ambition for ability be $154 and $155.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently in the bearish zone, but with a few bullish signs.
Hourly RSI – The RSI for ETH/USD is currently acclimation lower appear the 60 level.
Major Support Level – $140
Major Resistance Level – $150
