THELOGICALINDIAN - Key Highlights
Ethereum amount is ashore in a ambit adjoin the US Dollar and bitcoin. ETH/USD could abide to consolidate afore it could retest the $208 and $210 resistances.
Recently, ETH amount bootless to breach the $208 and $210 resistance levels adjoin the US Dollar. The ETH/USD brace boring confused bottomward and traded beneath the $205 support. It activated the $200 abutment akin and acicular beneath the 100 alternate simple affective average. There was additionally a breach beneath yesterdays accent bullish trend band with abutment at $205. However, the amount begin a able abutment abreast the $200-202 area and it is currently accumulation in a bound range.
On the downside, there is a appropriate abutment formed abreast $202 and the 100 alternate simple affective average. There is additionally a acute bullish trend band in abode with support at $202 on the alternate blueprint of ETH/USD. If the brace break the trend band abutment and $202, there are affairs of added declines beneath the $200 support. The abutting important abutment on the downside is at $194. On the upside, the $208 akin is a above hurdle for buyers. It additionally represents the 23.6% Fib retracement akin of the aftermost bead from the $220 beat aerial to $198 beat low.
Looking at the chart, ETH amount is acceptable to abide in a ambit abreast the $202 akin and the 100 alternate SMA afore buyers advance the amount college appear $208 and $210.
Hourly MACD – The MACD is currently aloof in the bullish zone.
Hourly RSI – The RSI is boring affective college and it currently abreast the 50 level.
Major Support Level – $200
Major Resistance Level – $208
