THELOGICALINDIAN - Ethereum amount is trading with a bullish bent adjoin the US Dollar and bitcoin ETHUSD could billow to a new account aerial if it break the 140 attrition akin in the abreast term
Ethereum Price Analysis
Recently, we saw a sharp advancement move aloft the $130 attrition in ETH amount adjoin the US Dollar. The ETH/USD brace climbed aloft the $132 and $134 attrition levels to move into a absolute zone. Finally, there was a abutting aloft the $134 akin and the 100 alternate simple affective average. The amount continued assets and activated the all-important $140 attrition level, area sellers emerged. Later, there was a downside alteration beneath the $138 level. Sellers pushed the amount beneath the 50% Fib retracement akin of the contempo acceleration from the $132 low to $140 high.
However, the bead was adequate by the $135 abutment level. Besides, there was no abutting beneath the 61.8% Fib retracement akin of the contempo acceleration from the $132 low to $140 high. The amount recovered and it is currently trading accurately aloft the $136 level. Moreover, there is an ascendance approach in abode with abutment at $136 on the alternate blueprint of ETH/USD. The brace is acceptable to abide college and it could retest the $140 attrition area.
A acknowledged abutting aloft the $140 barrier may accessible the doors for more gains. The abutting stop for buyers could be abreast the $144-145 zone. On the added hand, the approach abutment at $136 ability abide to authority losses. Below $136, the amount is acceptable to analysis the $134 abutment level. The capital abutment is abreast the $133 akin and the 100 alternate simple affective average.
Looking at the chart, ETH amount is signaling added assets aloft the $139 and $140 attrition levels. Once there is a abutting aloft $140, it could absolutely lift the bazaar affect for bitcoin, Ethereum, ripple, EOS, bitcoin cash, litecoin and added cryptocurrencies in the abreast term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move aback in the bullish zone.
Hourly RSI – The RSI for ETH/USD is placed able-bodied aloft the 60 akin and it is affective college appear the 70 level.
Major Support Level – $134
Major Resistance Level – $140
