THELOGICALINDIAN - Ethereum amount is boring acclimation college against the US Dollar agnate to bitcoin However ETH amount is acceptable to abort abreast the key 180 attrition breadth in the abreast term
Ethereum Price Analysis
This accomplished week, we saw a above abatement in ETH amount beneath the $180 abutment adjoin the US Dollar. Moreover, there was a abutting beneath the $175 akin and the 100 alternate simple affective average. Finally, the amount traded to a new account low at $163. Later, the amount started consolidating losses and it seems like a appropriate abutment abject is basic abreast the $165 level.
Recently, Ethereum amount started an upside alteration aloft the $168 level. Moreover, there was a breach aloft the 23.6% Fib retracement akin of the bottomward move from the $188 aerial to $163 beat low. However, it seems like the amount is disturbing to beat the 100 alternate simple affective average, currently at $172. If there is a breach aloft the 100 alternate simple affective average, the amount could balance appear $175.
The 50% Fib retracement akin of the bottomward move from the $188 aerial to $163 beat low is positioned abreast the $175 akin to act as a resistance. However, the capital attrition on the upside is abreast the $180 akin (the antecedent abutment area). A acknowledged abutting aloft $180 is bare for a appropriate accretion in the advancing sessions.
On the downside, an antecedent abutment is abreast the $168 level. Additionally, there is a abutting bullish trend band basic with abutment abreast $168 on the alternate blueprint of ETH/USD. If the brace breach the $168 support, it could retest the key $165 abutment area. If there are added downsides beneath $165, the amount could alike breach the $163 beat low and barter to a new low.
Looking at the chart, Ethereum amount ability accretion bullish drive if it break the $174 akin and the 100 alternate SMA. However, it won’t be accessible for the beasts to bright the $178-180 attrition area.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring affective into the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently aloft the 50 level, with a few absolute signs.
Major Support Level – $165
Major Resistance Level – $175
