THELOGICALINDIAN - Key Highlights
Ethereum amount is assuming absolute signs adjoin the US Dollar and bitcoin. ETH/USD is acceptable to actual added aloft $140 appear the $150 level.
After basic a appropriate support base about the $122 level, ETH amount started a accretion adjoin the US Dollar. The ETH/USD brace recovered aloft the $125 and $130 levels to move into a abbreviate appellation absolute zone. Later, the amount acquired absorption and confused aloft the $131-132 zone. Besides, there was a breach aloft the 50% Fib retracement akin of the aftermost bead from the $146 beat aerial to $122 beat low.
More importantly, yesterday’s aloft bearish trend band was breached with attrition at $132 on the alternate blueprint of ETH/USD. The brace is currently placed accurately aloft the $132 level, with a bullish angle. If the amount assets traction, it could beat the $140 resistance. It represents the 76.4% Fib retracement akin of the aftermost bead from the $146 beat aerial to $122 beat low. Aloft $140, the abutting attrition is at $146 and the 100 alternate simple affective average. Finally, the capital attrition is positioned abreast the $150-151 zone. It coincides with the 1.236 Fib addendum akin of the aftermost bead from $146.
Looking at the chart, ETH amount could actual added college appear $140 and $150 in the abreast term. However, the $150-151 area is acceptable to act as a able barrier for buyers. On the downside, an antecedent abutment is at $130, beneath which the amount may abatement to $124.
Hourly MACD – The MACD is boring affective in the bullish zone.
Hourly RSI – The RSI is currently placed accurately aloft the 50 level.
Major Support Level – $130
Major Resistance Level – $151
