THELOGICALINDIAN - Key Highlights
Ethereum amount is affective south adjoin the US Dollar and bitcoin. ETH/USD bankrupt the $185 low and it will best acceptable extend losses beneath $175.
Ethereum Price Decline
There was a minor advancement move appear the $195 akin in ETH amount adjoin the US Dollar. The ETH/USD brace alike traded abutting to the $200 akin and formed a aerial at $199.55. Later, there was a aciculate downside move and the amount bankrupt the $190 support. More importantly, the amount bankrupt the $185 low and traded to a new low at $176.25. It seems like the amount bootless to move accomplished $200 and it currently able-bodied beneath the 100 alternate simple affective average.
Recently, the amount adapted college from the $176 beat low. It traded aloft the 23.6% Fib retracement akin of the aftermost abatement from the $199 aerial to $176 low. However, the upside move was capped by the $185-188 zone. Besides, there was no analysis of the 50% Fib retracement akin of the aftermost abatement from the $199 aerial to $176 low. On the upside, there are two bearish trend curve in abode with attrition at $190 on the alternate blueprint of ETH/USD. Therefore, if the amount corrects higher, it could face heavy offers abreast the $185 and $190 levels.
Looking at the chart, ETH amount is in a bright bearish trend beneath $190. If sellers accretion momentum, there could be added losses beneath $175 and $170.
Hourly MACD – The MACD is hardly placed in the bearish zone.
Hourly RSI – The RSI is now able-bodied beneath the 40 akin with bearish signs.
Major Support Level – $175
Major Resistance Level – $190
