THELOGICALINDIAN - Ethereum amount boring confused aloft key resistances adjoin the US Dollar and bitcoin ETH could abide to move college appear the 145 attrition as continued as it is aloft 138
Ethereum Price Analysis
After a abrupt consolidation, ETH amount formed a able abutment abreast the $135 and $136 levels adjoin the US Dollar. The ETH/USD brace boring confused college and bankrupt a few important resistances abreast the $138 level. There was alike a abutting aloft the $138 akin and the 100 alternate simple affective average. This is a absolute assurance and has opened the doors for added assets aloft the $142 and $144 levels. Added importantly, bitcoin price already climbed higher, arduous the $4,050 resistance, and it may abide to acceleration in the abreast term.
Therefore, it could advice ETH, XRP, and added cryptocurrencies. During the contempo upside, this week’s aloft bearish trend band was breached with attrition abreast $138 on the alternate blueprint of ETH/USD. There was a breach aloft the 50% Fib retracement akin of the aftermost abatement from the $142 beat aerial to $135 low. The amount traded abutting to the $140 akin and after adapted lower. It traded beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $135 low to $140 high.
However, the $138 akin and the 100 alternate SMA acted as a able support. Besides, the 50% Fib retracement akin of the contempo beachcomber from the $135 low to $140 aerial acted as a support. The accepted amount activity suggests that the amount is able-bodied accurate aloft $138 and it may abide to rise. An actual attrition is at $140, aloft which the amount could breach the $142 level.
Looking at the chart, ETH amount is trading in a absolute area aloft the $138 level. If buyers abide in action, the amount may alike claiming the $145 attrition level. On the downside, if there is a breach beneath the $138 support, the amount may revisit the $136 support. The capital abutment is abreast the $135 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently accepting absorption in the bullish zone.
Hourly RSI – The RSI for ETH/USD climbed aloft the 50 akin and it is currently abreast the 55 level.
Major Support Level – $138
Major Resistance Level – $142
