THELOGICALINDIAN - Key Highlights
Ethereum amount is assuming bullish signs adjoin the US Dollar and bitcoin. ETH/USD is adverse resistances abreast the $236 and $238 levels.
During the accomplished few hours, there were bullish moves aloft $220 in ETH amount adjoin the US Dollar. The ETH/USD brace traded college and bankrupt the $226 and $230 attrition levels. There was alike a fasten aloft the $236 akin and the amount acclimatized aloft the 100 alternate simple affective average. A aerial was formed at $239.31 and after the amount adapted lower. It beneath beneath the 23.6% Fib retracement akin of the aftermost leg from the $213 low to $239 high.
However, declines were adequate by the $224 akin and the 100 alternate SMA. Moreover, there was no abutting beneath the 50% Fib retracement akin of the aftermost leg from the $213 low to $239 high. Beneath $226, the abutting key abutment is about the $223 akin and the 61.8% Fib retracement level. Added importantly, there is a monster bullish trend band in abode with abutment at $221 on the alternate blueprint of ETH/USD. As continued as the amount is aloft the trend line, it remains supported for added assets aloft the $236 level. A breach aloft the $239 aerial will best acceptable alarm for a billow appear the $250 level.
Looking at the chart, ETH amount is assuming absolute signs aloft the $223 and $221 supports. Below these, the amount may conceivably revisit the $213 beat low in the abreast term.
Hourly MACD – The MACD is about to move into the bullish zone.
Hourly RSI – The RSI is currently aloft the 50 level.
Major Support Level – $221
Major Resistance Level – $236
