THELOGICALINDIAN - Key Highlights
Ethereum amount is boring affective college adjoin the US Dollar and bitcoin. ETH/USD may conceivably balance added appear the $203 attrition in the abreast term.
After dipping appear the $191 level, ETH amount recovered nicely adjoin the US Dollar. The ETH/USD brace traded college and bankrupt the $195 and $196 attrition levels. Later, there was a abbreviate appellation correction, but the amount backward aloft the $195 support. The amount formed a appropriate abutment abject abreast $195 and after started an advancement move. There was alike a abutting aloft the $196 akin and the 100 alternate simple affective average.
More importantly, this week’s followed key bearish trend band was breached with attrition at $197 on the alternate blueprint of ETH/USD. The brace traded as aerial as $200 and it is currently accumulation gains. An antecedent abutment is the 23.6% Fib retracement akin of the aftermost beachcomber from the $191 low to $200 high. However, the best cogent abutment is abreast the $197 akin and the 100 alternate simple affective average. Below the 100 alternate SMA, the 50% Fib retracement akin of the aftermost beachcomber from the $191 low to $200 aerial is the next support. On the upside, an antecedent attrition is abreast $199 and $200, aloft which the amount could analysis $203.
Looking at the chart, ETH amount is placed accurately aloft the $197 abutment and the 100 alternate SMA. However, it won’t be accessible for buyers to bright the $203 resistance.
Hourly MACD – The MACD is now aback in the bullish zone.
Hourly RSI – The RSI is currently able-bodied aloft the 50 level.
Major Support Level – $197
Major Resistance Level – $203
