THELOGICALINDIAN - Key Highlights
Ethereum amount recovered a few credibility adjoin the US Dollar and bitcoin. However, ETH/USD faced a able attrition area abreast the $198 level.
Recently, ETH amount biconcave acutely from the $197 resistance adjoin the US Dollar. The ETH/USD brace beneath and retested the aftermost beat low abreast the $1952 level. Buyers appeared, adequate added losses, and assuredly pushed the amount aback aloft the $195 level. The amount bounced aback acutely and traded aloft the $197 akin as well. Besides, there was a breach aloft the 50% Fib retracement akin of the contempo downside from the $203 aerial to $191 low.
However, the amount bootless abreast a acute attrition at $198. More importantly, yesterday’s accent aloft bearish trend band is complete with accepted attrition at $197 on the alternate blueprint of ETH/USD. Furthermore, the 61.8% Fib retracement akin of the recent downside from the $203 aerial to $191 low acted as a able resistance. The amount is currently trading aloof beneath the $197 level, trend line, and the 100 alternate simple affective average. A able breach aloft the trend line, $197, and $198 is bare for added assets in the abreast term. If not, the amount could abatement aback appear the $195 or $194 level.
Looking at the chart, ETH amount recovered accurately from the $192 zone. Having said that, it ran into the key attrition abreast $197-198. Thus, as continued as the amount is beneath $198, it may able-bodied abatement already again.
Hourly MACD – The MACD is about to move aback in the bearish zone.
Hourly RSI – The RSI is currently aloft the 50 level.
Major Support Level – $192
Major Resistance Level – $198
