THELOGICALINDIAN - Key Highlights
Ethereum amount beneath afresh adjoin the US Dollar and bitcoin. ETH/USD may conceivably abide to abatement appear the $180 akin in the abreast term.
Ethereum Price Decline
After declining abreast the $225 level, ETH amount started a downside move adjoin the US Dollar. The ETH/USD brace beneath ad traded beneath the $210 and $200 abutment levels. There was additionally a abutting beneath the $200 akin and the 100 alternate simple affective average. Moreover, there was a breach beneath the 50% Fib retracement akin of the aftermost beachcomber from the $166 low to $227 high.
More importantly, there was a breach beneath a above application triangle with abutment at $210 on the alternate blueprint of ETH/USD. The brace beneath appear the $190 akin and begin abutment abreast $192. On the downside, the abutting abutment is abreast the 61.8% Fib retracement akin of the aftermost beachcomber from the $166 low to $227 high. A downside break beneath the $192 akin could accessible the doors for added losses. The best important abutment is abreast $180, which is abutting to the 76.4% Fib retracement akin of the aftermost beachcomber from the $166 low to $227 high. If the amount corrects higher, it could acquisition attrition abreast the $200 and $205 levels.
Looking at the chart, ETH amount in a bearish area and it could extend declines appear $190, $185 and $180. Below this last, it could alike barter aback appear the $166 level.
Hourly MACD – The MACD is affective in the bearish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 40 and 30 levels.
Major Support Level – $190
Major Resistance Level – $205
