THELOGICALINDIAN - Key Highlights
Ethereum amount climbed college afresh adjoin the US Dollar and bitcoin. ETH/USD topped abreast $125 and after started a downside correction.
Recently, there was a positive break aloft the $115 akin in ETH amount adjoin the US Dollar. The ETH/USD brace climbed college and bankrupt the $118 and $120 attrition levels. There was alike a abutting aloft the $112 axis akin and the 100 alternate simple affective average. The amount traded appear the $125 attrition akin area sellers emerged. As a result, there was a downside acknowledgment and the amount beneath beneath $120.
During the slide, there was a breach beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $99 low to $125 high. Moreover, there was a breach beneath a abutting bullish trend band with abutment at $119 on the alternate blueprint of ETH/USD. The brace is now abutting a brace of important supports aloft the $112 level. An antecedent abutment is at $114 and the 100 alternate simple affective average. The abutting abutment is at $112 and the 50% Fib retracement akin of the contempo beachcomber from the $99 low to $125 high. If there is a breach beneath $112 ad $111, the amount could decline appear $105.
Looking at the chart, ETH amount traded with a bullish bend aloft the $120 level, but bootless abreast $125. It is currently acclimation lower appear the $112 support, which could stop losses.
Hourly MACD – The MACD is affective aback in the bearish zone.
Hourly RSI – The RSI beneath and it is currently aloof abreast the 50 level.
Major Support Level – $112
Major Resistance Level – $120
