THELOGICALINDIAN - Key Highlights
Ethereum amount boring climbed college adjoin the US Dollar and bitcoin. ETH/USD could actual lower, but the $224 abutment is acceptable to authority losses.
There was an upside move aloft the $226 akin in ETH amount adjoin the US Dollar. The ETH/USD brace acicular aloft the $230 attrition and formed an intraday aerial at $230.74. Later, it started a downside alteration and beneath beneath $228. There was a breach beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $222 low to $230 high. However, there are abounding supports abreast the $224 and $226 levels.
At the moment, the amount is testing the previous resistance (now support) abreast $225-226. There is additionally a key ascendance approach in abode with abutment at $226 on the alternate blueprint of ETH/USD. Below the approach support, the 100 alternate simple affective boilerplate is positioned abreast the $224 level. More importantly, the 61.8% Fib retracement akin of the contempo beachcomber from the $222 low to $230 aerial is abreast $225. Therefore, if the amount corrects lower, it is acceptable to acquisition a able abutment abreast $224-226. Below $224, the amount could abide to move bottomward appear the $222 low in the abreast term.
Looking at the chart, ETH amount is assuming absolute signs aloft the $224 support. However, buyers charge to bright the $230 attrition breadth to advance the amount added higher. The abutting key resistances on the upside are apparent abreast the $238 and $244 levels.
Hourly MACD – The MACD is boring affective aback in the bearish zone.
Hourly RSI – The RSI is currently placed aloof aloft the 50 level.
Major Support Level – $224
Major Resistance Level – $230
