THELOGICALINDIAN - Key Highlights
Ethereum amount is boring acclimation college adjoin the US Dollar and bitcoin. ETH/USD charge breach the $215 attrition to balance accurately in the abreast term.
Ethereum Price Resistance
This accomplished week, we saw a major downside breach beneath the $210 abutment in ETH amount adjoin the US Dollar. The ETH/USD brace traded as low as $185 and after started a accessory upside correction. It confused college and bankrupt the $200 resistance. There was additionally a breach aloft the 23.6% Fib retracement akin of the aftermost accelerate from the $234 aerial to $185 low.
However, the upside move was capped by the $208 level. More importantly, there is a acute bearish trend band in abode with attrition at $205 on the alternate blueprint of ETH/USD. The aforementioned trend band is acting as a able attrition abreast $205-206 and is capping upsides. Above the trend line, the 50% Fib retracement akin of the aftermost accelerate from the $234 aerial to $185 low is at $210. Above this, there is an important attrition formed abreast $213-215 zone. The declared $215 area was a abutment beforehand and now it could act as a resistance. Finally, the 100 alternate simple affective boilerplate is positioned abreast the $216 level.
Looking at the chart, ETH amount is acutely adverse a lot of hurdles abreast the $205 and $215 levels. As continued as the amount is beneath $215, it charcoal at a accident of added losses aback appear the $185 akin in the abreast term.
Hourly MACD – The MACD is about to move aback in the bearish zone.
Hourly RSI – The RSI is currently abreast the 50 level.
Major Support Level – $185
Major Resistance Level – $215
