THELOGICALINDIAN - Key Highlights
Ethereum amount acquired drive afresh adjoin the US Dollar and bitcoin. ETH/USD is now placed for added assets aloft the $197, $198 and $200 attrition levels.
Recently, there was a minor upside move from the $184 beat low in ETH amount adjoin the US Dollar. The ETH/USD brace traded aloft the $190 and $192 attrition levels. However, the upside move was capped by the $199-200 area. The amount bootless to breach the $200 area and boring angry south. It beneath beneath the 50% Fib retracement akin of the contempo beachcomber from the $184 low to $199 high.
However, buyers appeared abreast the $188-190 area. Moreover, the 61.8% Fib retracement akin of the contempo beachcomber from the $184 low to $199 aerial additionally acted as a support. Later, the amount jumped college and confused aloft the $190 and $197 attrition levels with a absolute angle. More importantly, the amount surpassed a able attrition abreast the $200 level. There was additionally a breach aloft a key bearish trend band with attrition at $197 on the alternate blueprint of ETH/USD. Aloft the trend line, the 100 alternate simple affective average was abandoned abreast the $199 level. Therefore, a breach and abutting aloft the $199-200 area is a absolute zone.
Looking at the chart, ETH amount seems to be accepting clip aloft $197. As continued as there is no apocryphal breach aloft the $200 handle and the 100 alternate SMA, there are affairs of added upsides. On the upsides, the abutting resistances are at $207 and $210.
Hourly MACD – The MACD is affective in the bullish zone.
Hourly RSI – The RSI currently abreast the 60 akin with a bearish angle.
Major Support Level – $197
Major Resistance Level – $210
