THELOGICALINDIAN - Ethereum amount is trading with a absolute bent adjoin the US Dollar and bitcoin ETH could extend assets already it break the 141 and 144 attrition levels in the advancing sessions
Ethereum Price Analysis
This accomplished week, we saw a nice upside move aloft the $134 and $140 resistances in ETH amount adjoin the US Dollar. The ETH/USD brace traded abutting to the $144 akin and after started a downside correction. There was a breach beneath the $140 and $138 levels. It traded abutting $137 akin and formed a low aloof aloft the $136 level. The amount additionally backward aloft the 100 alternate simple affective average, with a absolute bend aloft $134.
At the moment, the amount is trading aloft the $138 akin and the 50% Fib retracement akin of the contempo abatement from the $144 beat aerial to $137 beat low. Besides, there was a breach aloft a key application triangle with attrition abreast $139 on the alternate blueprint of ETH/USD. The brace climbed college and activated the $141 attrition area. It represents the 61.8% Fib retracement akin of the contempo abatement from the $144 beat aerial to $137 beat low. In the abbreviate term, there could be a few beat moves aloft $138. However, the amount is acceptable to ascend aloft $141 and $142 in the advancing sessions.
On the upside, the capital attrition is abreast the $144 level, aloft which the amount could ambition a new account high. The abutting key resistances are abreast the $148 and $150 levels. On the downside, an antecedent abutment is at $138. If there are added losses, the amount may attempt to break aloft the $137 abutment zone.
Looking at the chart, ETH amount acceptable completed a downside alteration abreast the $137 level. If buyers accretion clip aloft the $141, there could be a solid advancement move appear the $144 and $148 levels. Conversely, a downside breach beneath the $137 abutment and 100 SMA could activate added downsides in the abreast term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD aloof confused aback in the bullish zone.
Hourly RSI – The RSI for ETH/USD climbed aback aloft the 50 akin and it is testing the 60 level.
Major Support Level – $137
Major Resistance Level – $141
