THELOGICALINDIAN - Key Highlights
Ethereum amount is beneath burden adjoin the US Dollar and bitcoin. ETH/USD charge breach aloft $196 to abstain a downside breach in the abreast term.
During the accomplished few hours, there were mostly ambit moves beneath $201 in ETH amount adjoin the US Dollar. The ETH/USD brace bootless to move college aloft the $201 and $203 resistances, and beneath slowly. There was a bearish anatomy formed afterwards the amount bootless to breach the $200.65-201.00 zone. The amount additionally bootless to bright the 50% Fib retracement akin of the aftermost bead from the $204 beat aerial to $198 low.
More importantly, yesterday’s accent important bearish trend band is in abode with attrition at $200 on the alternate blueprint of ETH/USD. The amount is additionally trading able-bodied beneath the $201 axis akin and the 100 alternate simple affective average. If there is a breach aloft the trend line, the amount may attempt abreast $201-202. It represents the 61.8% Fib retracement akin of the aftermost bead from the $204 beat aerial to $198 low. A acceptable abutting aloft the $201 akin and the 100 alternate SMA is bare for buyers to alpha a appropriate recovery. On the downside, the $196 and $197 levels are important supports. Beneath these, the amount may bead acutely appear the $185 level.
Looking at the chart, ETH amount is acutely afterward a bearish anatomy beneath $201. To recover, the amount charge breach the $200, $201 and $202 attrition levels in the abreast term.
Hourly MACD – The MACD is still in the bearish zone.
Hourly RSI – The RSI is assuming no accretion signs beneath the 50 level.
Major Support Level – $197
Major Resistance Level – $201
