THELOGICALINDIAN - Ethereum amount is aggressive college appear key resistances against the US Dollar agnate to bitcoin ETH amount is acceptable to face a able affairs absorption abreast the 200 level
Ethereum Price Analysis
This accomplished week, we saw a aloft bead in ETH amount beneath the $202 abutment breadth adjoin the US Dollar. The abatement was such that the amount alike bankrupt the $184 abutment area. Finally, it traded to a new account low at $174 and afresh started an upside correction. Besides, there was a appropriate accretion acclaimed in bitcoin amount as able-bodied aloft the $10,200 attrition level.
Ethereum amount recovered aloft the key $190 attrition akin and the 100 alternate simple affective average. Moreover, there was a breach aloft the $192 and $195 attrition levels. It activated the $198 akin and is currently accumulation gains. It activated the 23.6% Fib retracement akin of the advancement move from the $184 beat low to $198 high. On the downside, there is a able abutment basic abreast the $190 akin and the 100 alternate SMA.
Moreover, there is a abutting bullish trend band basic with abutment abreast $188 on the alternate blueprint of ETH/USD. The $190 abutment additionally coincides with the 50% Fib retracement akin of the advancement move from the $184 beat low to $198 high. Therefore, dips appear the $190 abutment breadth ability acquisition buyers in the abbreviate term. If there is a downside breach beneath $190 and $188, the amount could resume its decline.
On the upside, there is a strong attrition breadth abreast the $200 and $202 levels. Therefore,. if there is an upside breach aloft the $202 resistance, the amount is acceptable to abide college appear the $210 and $215 levels.
Looking at the chart, Ethereum amount is acutely acclimation college and is trading accurately aloft the $192 level. Having said that, the $202 attrition breadth holds the key. If the amount fails to beat the $202 barrier, there could be a beginning decline. The capital supports on the downside are abreast the $190 and $188 levels.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring affective into the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently placed accurately aloft the 60 level.
Major Support Level – $190
Major Resistance Level – $202
