THELOGICALINDIAN - Key Highlights
Ethereum amount acquired a lot of bullish drive adjoin the US Dollar and bitcoin. ETH/USD bankrupt $145 and now it could assemblage aloft $150 and $155.
In the weekly analysis, we discussed the affairs of ETH amount hitting the $140 mark adjoin the US Dollar. The ETH/USD brace did breach the $125 and $130 attrition levels. It alike bankrupt the $140 barrier and placed itself able-bodied aloft the 100 alternate simple affective average. The amount afresh traded abutting to the $150 akin and it is currently accumulation gains.
An antecedent abutment is abreast $144 and the 23.6% Fib retracement akin of the contempo beachcomber from the $125 low to $149 high. However, the capital abutment is abreast the $135-136 zone. Moreover, there is a acute bullish trend band in abode with abutment at $138 on the alternate blueprint of ETH/USD. The trend band is abutting to the 50% Fib retracement akin of the contempo beachcomber from the $125 low to $149 high. Therefore, if there is a downside correction, the amount is acceptable to acquisition bids abreast $144, $140 or $135. On the upside, an antecedent attrition is abreast the $150 level, aloft which the amount could assemblage accomplished $155.
Looking at the chart, ETH amount acquired added than 15% and bankrupt the key $140 resistance. This indicates buyers are in abounding control and there could be added assets aloft $150.
Hourly MACD – The MACD is placed accurately in the bullish zone.
Hourly RSI – The RSI is currently placed in the overbought area with no bearish angle.
Major Support Level – $135
Major Resistance Level – $150
