THELOGICALINDIAN - Ethereum amount started accumulation losses afterwards a above bead adjoin the US Dollar and bitcoin ETHUSD charcoal advertise on rallies until it break the 142 barrier and the 100 alternate SMA
Ethereum Price Analysis
Recently, we saw a sharp decline in ETH amount from able-bodied aloft $165 adjoin the US Dollar. The ETH/USD brace bankrupt abounding supports such as $155, $150 and $142. It alike bankrupt the $136 abutment and traded abreast the $130-131 zone. A low was formed abreast $131 and after the amount started acclimation higher. It confused aloft the $135 and $136 levels and after started accumulation losses. Buyers pushed the amount appear the 23.6% Fib retracement akin of the contempo bead from the $166 aerial to $131 low.
However, the $141 and $142 levels acted as a able resistance. At the outset, it seems like there is a abbreviate appellation blemish arrangement in abode with attrition at $140 on the alternate blueprint of ETH/USD. On the upside, the brace needs to bright the triangle attrition and the $142 level. The capital attrition is abreast the $144 akin and the 100 alternate simple affective average. If buyers accomplish in allowance the 100 alternate SMA and $144, there could be added gains. The abutting key attrition is abreast the $149 level. It represents the 50% Fib retracement akin of the contempo bead from the $166 aerial to $131 low.
On the added hand, if there is no upside breach aloft $144, the amount could abatement further. A breach beneath the $136 abutment may advance the amount appear the $132 level. Finally, a breach beneath the contempo beat low will best acceptable advance the amount beneath $130.
Looking at the chart, ETH amount ability abide to attempt abreast the $141, $142 and $144 attrition levels. However, if there is a acknowledged abutting aloft $144 and the 100 alternate SMA, buyers could accretion drive in the abreast term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is hardly placed in the bullish zone, with no above bullish signal.
Hourly RSI – The RSI for ETH/USD is currently aloof about the 50 level, with a collapsed anatomy and aloof bias.
Major Support Level – $132
Major Resistance Level – $142
