THELOGICALINDIAN - Key Highlights
Ethereum amount is trading in a ambit adjoin the US Dollar and bitcoin. ETH/USD charge move aloft the $214 attrition to alpha a solid advancement move.
There were a few bearish moves beneath the $215 and $210 levels in ETH amount adjoin the US Dollar. The ETH/USD brace activated the $206 abutment akin on two occasions. However, buyers were acknowledged in arresting declines beneath the $206 support. The amount formed a low at $205 and it afresh recovered aloft the 100 alternate simple affective average. There was additionally a breach aloft the 50% Fib retracement akin of the contempo abatement from the $214 beat aerial to $205 beat low.
More importantly, there was a breach aloft a abutting bearish trend band with attrition at $209 on the alternate blueprint of ETH/USD. The brace is now abutting the $212 attrition and addition bearish trend band on the aforementioned chart. An actual attrition is abreast the 76.4% Fib retracement akin of the recent decline from the $214 beat aerial to $205 beat low. If there is a breach aloft the trend line, there is a adventitious that the amount could beat the $214 beat high. A acknowledged abutting aloft the $214 attrition is bare for a appropriate accretion in the abreast term.
Looking at the chart, ETH amount is trading accurately aloft the $206 abutment area. Having said that, buyers charge to booty ascendancy aloft $212 and $214 for added upsides in the advancing sessions.
Hourly MACD – The MACD is placed accurately in the bullish zone.
Hourly RSI – The RSI is currently able-bodied aloft the 50 level.
Major Support Level – $206
Major Resistance Level – $214
