THELOGICALINDIAN - Ethereum amount is currently acclimation losses aloft 200 against the US Dollar agnate to bitcoin ETH amount ability alpha a beginning abatement if it fails to abide college aloft 225
Ethereum Price Analysis
Yesterday, we saw a aciculate abatement in bitcoin and Ethereum amount adjoin the US Dollar. ETH/USD alike bankrupt the key $200 abutment akin and traded to a new account low. A beat low was formed abreast $190 and afresh the amount started an upside correction. It bankrupt the $200 attrition to alpha a appropriate recovery. Moreover, there was a breach aloft the $210 attrition additional the 50% Fib retracement akin of the aftermost abatement from the $235 aerial to $190 low.
However, the amount faced a able attrition abreast the $218 and $220 levels. Moreover, there is a acute bearish trend band basic with attrition abreast $218 on the alternate blueprint of ETH/USD. It seems like the brace struggled abreast the 61.8% Fib retracement akin of the aftermost abatement from the $235 aerial to $190 low. Above the trend line, the abutting important attrition is abreast the $225 level.
The 100 alternate simple affective boilerplate is positioned abreast the $225 akin to act as a able resistance. The final hurdle for the beasts is abreast the $235 attrition and addition bearish trend line. Therefore, the beasts are acceptable to face a lot of hurdles, starting with $218 and up to $235. Only a acknowledged abutting aloft $235 ability abatement bearish burden and advance the amount appear $250.
On the added hand, if the amount fails to ascend aloft $220 or $225, it is acceptable to restart its decline. An actual abutment is abreast the $210 level, beneath which the amount may conceivably revisit the $200 handle.
Looking at the chart, Ethereum amount is assuming a few absolute signs aloft the $210 level. Having said that, it charge bright the $220 and $225 attrition levels to abide higher. If not, it could abatement aback appear $200 or the $190 low.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD ability move aback into the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently aloft the 50 level, with a bullish angle.
Major Support Level – $210
Major Resistance Level – $220
