THELOGICALINDIAN - Key Highlights
Ethereum amount is mostly accumulation adjoin the US Dollar and bitcoin. ETH/USD is acceptable to abatement a few credibility appear $205 afore affective higher.
Ethereum Price Support
After a aloft downside correction appear the $190 level, ETH amount begin abutment adjoin the US Dollar. The ETH/USD brace traded as low as $192 and after started an advancement move. It jumped acutely aloft the $195 and $200 attrition levels. There was additionally a breach aloft the 50% Fib retracement akin of the contempo abatement from the $228 aerial to $192 beat low.
The amount additionally acclimatized aloft the $205 akin and the 100 alternate simple affective average. However, the upside move was capped by the $214-215 zone. The 61.8% Fib retracement akin of the contempo abatement from the $228 aerial to $192 beat low additionally acted as a hurdle. Moreover, there is a key bearish trend band in abode with attrition at $216 on the alternate blueprint of ETH/USD. The brace needs to breach the trend band and the $218 akin to barter added higher. The current amount action indicates that the amount could actual a few credibility lower afore it could acceleration aback aloft $216.
Looking at the chart, ETH amount may dip a few credibility appear the $206 and $205 abutment levels. Below these, the amount could alike analysis the $200 area afore it crawls aback aloft the $216 level. Aloft $216, the amount may conceivably breach $220 for added upsides.
Hourly MACD – The MACD is placed hardly in the bullish zone.
Hourly RSI – The RSI is currently positioned accurately aloft the 50 level.
Major Support Level – $205
Major Resistance Level – $216
