Ethereum Price (ETH) Could Continue Higher While Bitcoin Struggles

THELOGICALINDIAN - Ethereum amount is assuming absolute signs aloft 175 against the US Dollar while bitcoin is disturbing ETH amount charcoal accurate on dips and it could acceleration further

Ethereum Price Analysis

Recently, there was a solid acceleration in ETH amount aloft the $175 attrition breadth adjoin the US Dollar. However, bitcoin amount struggled to accretion drive aloft the $10,500 attrition area. The recent rise in pushed Ethereum aloft the $180 akin and the 100 alternate simple affective average. Moreover, the amount traded abutting to the $185 akin and afresh started a abbreviate appellation downside correction.

It traded beneath the $180 akin and the activated the 23.6% Fib retracement akin of the advancement move from the $165 low to $185 high. At the outset, there is a key blemish arrangement basic with abutment abreast $180 on the alternate blueprint of ETH/USD. It seems like the amount ability abatement a few credibility beneath the trend band abutment at $180. The abutting key abutment is abreast the $178 akin and the 100 alternate SMA.

Additionally, the 50% Fib retracement akin of the advancement move from the $165 low to $185 aerial is abreast the $175 akin to act as a support. If the amount continues to slide, there are affairs of a trend changeabout appear the $170 abutment area. The 76.4% Fib retracement akin of the advancement move from the $165 low to $185 aerial is additionally abreast $170. Conversely, an actual attrition on the upside is abreast the $182 level.

If there is an upside breach aloft the $182 level, the amount could attack to beat the $185 attrition area. Aloft $185, the amount is acceptable to abide college appear the $190 and $192 attrition levels.

Looking at the chart, Ethereum amount is acutely trading with a absolute bent aloft the $175 and $178 abutment levels. Only an alternate abutting beneath $175 ability abate the accepted absolute bias. On the upside, the amount will best acceptable accretion bullish drive already it clears the $182 and $185 attrition levels.