THELOGICALINDIAN - Key Highlights
Ethereum amount is trading accurately adjoin the US Dollar and bitcoin. ETH/USD is placed accurately aloft the $144 abutment and it may abide to move higher.
Yesterday, we discussed that ETH amount could revisit the $150 and $155 levels adjoin the US Dollar. The ETH/USD brace did move higher, bankrupt the $144 attrition and climbed appear the $150 and $155 attrition levels. A new account aerial was formed at $156 and after the amount started a downside correction. It beneath beneath the $155 and $152 levels, but it is currently able-bodied aloft the 100 alternate simple affective average.
There was a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $139 low to $156 high. However, there are abounding supports abreast the $150 and $144 levels. Moreover, there is a abbreviate appellation bullish banderole arrangement formed with abutment at $150 on the alternate blueprint of ETH/USD. Beneath the approach support, the abutting buy area is abreast the $148 level. It represents the 50% Fib retracement akin of the aftermost beachcomber from the $139 low to $156 high. Therefore, if there is a downside correction, the price may acquisition support abreast $150 or $148.
Looking at the chart, ETH amount is trading accurately aloft the $144 support. The amount activity is absolute and it seems like there could be added assets aloft the $155 level. On the downside, the capital supports are $148 and $144.
Hourly MACD – The MACD is hardly placed in the bearish zone.
Hourly RSI – The RSI is now placed able-bodied aloft the 50 level.
Major Support Level – $144
Major Resistance Level – $155
