THELOGICALINDIAN - Key Highlights
Ethereum amount acquired bullish drive adjoin the US Dollar and bitcoin. ETH/USD rallied aloft the $210 attrition and it looks set for added gains.
Ethereum Price Rally
Finally, there was a sharp advancement move acclaimed from the $170 abutment abject in ETH amount adjoin the US Dollar. The ETH/USD brace started a solid bullish beachcomber and bankrupt abounding resistances such as $185, $195, $200 and $210. It alike acclimatized aloft the $200 handle and the 100 alternate simple affective average. During the rise, there was a breach aloft a key abutting bearish trend band at $#185 on the alternate blueprint of ETH/USD.
The brace alike bankrupt the $220 akin and traded as aerial as $224.09 recently. At the moment, it seems like the brace is afterward a concise ascendance approach with abutment at $216 on the aforementioned chart. On the downside, the approach abutment is aloft the 23.6% Fib retracement akin of the contempo beachcomber from the $167 low to $224 high. Below this, the brace may conceivably actual appear the $200 handle. Finally, the best important abutment is abreast $195 and the 100 alternate SMA. Additionally, the 50% Fib retracement akin of the contempo beachcomber from the $167 low to $224 aerial is additionally abreast $195.
Looking at the chart, ETH amount is acutely aback with a blast and dips from the accepted levels appear $200 charcoal supported. On the upside, the abutting important resistances for buyers are $235 and $240. Above this last, the amount could analysis the $250 level.
Hourly MACD – The MACD is affective in the bullish zone.
Hourly RSI – The RSI is currently in the overbought area aloft the 70 level.
Major Support Level – $210
Major Resistance Level – $235
