THELOGICALINDIAN - Key Highlights
Ethereum amount is trading with a absolute bent adjoin the US Dollar and bitcoin. ETH/USD may accretion bullish drive with a abutting aloft the $230-232 zone.
During the accomplished two sessions, there was a nice upside move aloft the $220 akin in ETH amount adjoin the US Dollar. The ETH/USD brace acquired absorption and confused aloft the $222 attrition and the 100 alternate simple affective average. Moreover, there was a breach aloft the 50% Fib retracement akin of the aftermost above downside from the $248 aerial to $204 low.
It opened the doors for added assets and the amount traded aloft $225. During the upside, there was a breach aloft a acute bearish trend band with attrition at $227 on the alternate blueprint of ETH/USD. The brace acicular aloft the $230 level, but it bootless to authority gains. It seems like the 61.8% Fib retracement akin of the aftermost aloft downside from the $248 aerial to $204 low acted as a able resistance. The amount is currently consolidating in a range aloft the $225 akin and it seems like there could be added assets in the abreast term. Aloft $230 and $232, the amount may conceivably acceleration appear the $242 and $245 levels.
Looking at the chart, ETH amount charcoal accurate on dips abreast $227 and $225. Additionally, the 100 alternate SMA at $222 is additionally acceptable to act as a able abutment for buyers.
Hourly MACD – The MACD is affective in the bullish zone.
Hourly RSI – The RSI is currently placed able-bodied aloft the 60 level.
Major Support Level – $225
Major Resistance Level – $232
