THELOGICALINDIAN - Key Highlights
Ethereum amount is boring affective college adjoin the US Dollar and bitcoin. ETH/USD charge bright the $204 akin to move added college in the abreast term.
During the accomplished few hours, there was a apathetic and abiding acceleration from the $199 beat low in ETH amount adjoin the US Dollar. The ETH/USD brace traded aloft the $200 akin and the 100 alternate simple affective average. As a result, there were added assets and the amount traded appear the $203 and $204 attrition levels. Sellers emerged and adequate added assets aloft the $204 level.
More importantly, there is a above bearish trend band in abode with attrition at $203 on the alternate blueprint of ETH/USD. The trend band is currently acting as a solid attrition abreast the $203.-204 zone. The amount is currently accumulation abreast the 23.6% Fib retracement akin of the contempo beachcomber from the $199 low to $203 high, but it could actual lower beneath $202. An antecedent abutment is abreast the $201 akin and the 100 alternate SMA. It coincides with the 50% Fib retracement akin of the contempo beachcomber from the $199 low to $203 high. Buying dips in the abbreviate appellation appear the $201 and $200 levels can be considered. The stop in the mentioned case should be beneath the $199 level.
Looking at the chart, ETH amount is assuming absolute signs aloft the $200 akin and the 100 hourly. However, it charge breach the $204 akin to set the clip for added gains.
Hourly MACD – The MACD is hardly in the bullish zone.
Hourly RSI – The RSI is currently able-bodied aloft the 50 level.
Major Support Level – $199
Major Resistance Level – $204
