THELOGICALINDIAN - Key Highlights
Ethereum amount is aggressive college adjoin the US Dollar and bitcoin. ETH/USD bankrupt the important $215 attrition to move added into a bullish zone.
Recently, there was a accessory downside alteration from the $216 beat aerial in ETH amount adjoin the US Dollar. The ETH/USD brace traded lower and activated the $205-206 abutment area, which prevented declines. A abject was formed and the amount started a beginning advancement move. There was a decent bounce and the amount bankrupt the $212 and $215 attrition level. The move was such that the amount traded to a new account aerial aloft $220 and it is currently able-bodied aloft the 100 alternate simple affective average.
During the upside, yesterday’s accent key blemish arrangement was breached with attrition at $208 on the alternate blueprint of ETH/USD. The amount traded as aerial as $223 and it is currently retreating a few points. An antecedent abutment is the 23.6% Fib retracement akin of the contempo leg from the $206 low to $223 high. There is additionally a abutting bullish trend band in abode with abutment at $216 on the aforementioned chart. If there is an continued correction, the amount may analysis $214 or the 50% Fib retracement akin of the contempo leg from the $206 low to $223 high.
Looking at the chart, ETH amount is trading with a lot of backbone and it seems like dips abreast $216 or $215 charcoal able-bodied supported. On the upside, buyers could ambition the $230 akin in the abbreviate term.
Hourly MACD – The MACD is placed accurately in the bullish zone.
Hourly RSI – The RSI is now abreast the overbought levels.
Major Support Level – $215
Major Resistance Level – $230
