Ethereum Price (ETH) Correcting Gains, Another Dip Before Higher?

THELOGICALINDIAN - Ethereum amount is currently acclimation assets against the US Dollar and bitcoin is aback beneath 10000 ETH amount ability anon revisit the 210 abutment breadth afore it could acceleration again

Ethereum Price Analysis

Yesterday, we saw a appropriate advancement move in Ethereum amount aloft the $210 attrition adjoin the US Dollar. The ETH/USD brace alike bankrupt the $220 attrition level and the 100 alternate simple affective average. Finally, there was a advance aloft $225 and new beat aerial was formed at $226. The amount is currently acclimation assets and it afresh beneath beneath the $220 abutment level.

Moreover, the amount traded beneath the 23.6% Fib retracement akin of the contempo accretion from the $200 low to $226 high. The amount is now trading beneath the $218 akin and the 100 alternate simple affective average. It seems like there is a abbreviate appellation crumbling approach (may be bullish flag) basic with attrition abreast $218 on the alternate blueprint of ETH/USD. An actual abutment is abreast $213 additional the 50% Fib retracement akin of the contempo accretion from the $200 low to $226 high.

However, the capital abutment for the beasts is abreast the $210 level. The declared $210 akin was a attrition beforehand and now it ability assure losses. Additionally, the 61.8% Fib retracement akin of the contempo accretion from the $200 low to $226 aerial is additionally abreast the $210 level.

On the upside, the $218 and $220 levels are important hurdles for the bulls. If there is a acknowledged breach aloft the $220 attrition additional a abutting aloft the 100 alternate SMA, the amount could restart its advancement move. The abutting attrition is abreast the $226 level, aloft which it could analysis the $230 resistance.

Looking at the chart, Ethereum amount is currently acclimation assets and it ability abide to abatement beneath $215. However, the $210 abutment akin could act as a able buy zone. If the amount fails to break aloft $210, it could abatement aback appear the $200 support.