THELOGICALINDIAN - Key Highlights
Ethereum amount is mostly in a bearish area adjoin the US Dollar and bitcoin. ETH/USD needs to affected sellers aloft $212 to analysis the $228 resistance.
Ethereum Price Resistance
Yesterday, there were many rejections about the $214-216 breadth in ETH amount adjoin the US Dollar. The ETH/USD brace bootless to abutting aloft the $216 akin and dived sharply. It bankrupt the $206 and $200 abutment levels and traded as low as $197. Later, it recovered acutely and confused aback aloft the $200 level. It revisited the $214 resistance, which acted as a resistance.
More importantly, yesterday’s accent important bearish trend band is alive with attrition at $212 on the alternate blueprint of ETH/USD. The brace is award a able attrition abreast the trend band and $216. It is currently trading abreast the 100 alternate simple affective boilerplate and $208. It already bankrupt the 23.6% Fib retracement akin of the contempo beachcomber from the $197 low to $213 high. It seems like the amount may abide to move down appear the $205 and $204 levels. These are abutting to the 50% Fib retracement akin of the contempo beachcomber from the $197 low to $213 high. If there is a downside breach beneath $204, the amount could retest $200.
Looking at the chart, ETH amount is adverse a boxy barrier abreast the $214-216 zone. A able abutting aloft the trend band and $216 akin is bare for buyers to advance the amount appear the $228 high.
Hourly MACD – The MACD is affective boring in the bullish zone.
Hourly RSI – The RSI is currently aloof about the 50 level.
Major Support Level – $204
Major Resistance Level – $212
