THELOGICALINDIAN - Ethereum amount is trading with a absolute bent against the US Dollar and bitcoin rallied aloft 10200 ETH amount may additionally accretion absorption and ascend aloft the 220 resistance
Ethereum Price Analysis
Yesterday, we discussed the accent of the $210 abutment for Ethereum amount adjoin the US Dollar. The ETH/USD brace adapted lower, but it backward aloft the $210 abutment level. More importantly, there was no abutting beneath the 100 alternate simple affective average, and the amount climbed aback aloft the $215 level. Additionally, bitcoin price performed absolutely able-bodied and climbed aloft the key $10,200 resistance.
Recently, ETH amount climbed aloft the $216 akin and formed a beat aerial at $218. It is currently disturbing to abide college aloft $218 and $220. An actual abutment is abreast the $216 akin additional the 23.6% Fib retracement akin of the advancement beachcomber from the $210 low to $218 high. Moreover, there is a abutting bullish trend band basic with abutment abreast $214 on the alternate blueprint of ETH/USD.
The trend band abutment is abreast the 50% Fib retracement akin of the advancement beachcomber from the $210 low to $218 high. Therefore, dips appear the $214 akin ability acquisition a able affairs interest. The abutting above abutment is abreast the $212 akin and the 100 alternate simple affective average. If there is a acknowledged abutting beneath the 100 alternate SMA, the amount could alike breach the $210 abutment level.
On the upside, the $218 akin is an antecedent resistance. The capital attrition is abreast the $220 level. If there is an upside breach aloft the $220 resistance, the amount could ascend college absolutely appear the $225 and $230 levels.
Looking at the chart, Ethereum amount is trading with a absolute bent aloft the $212 and $214 levels. Therefore, there are affairs of added upsides aloft the $218 and $220 levels in the abreast term. Only a abutting beneath the 100 alternate SMA and $210 ability abate the accepted bullish view.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is accident drive in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently affective college and is able-bodied aloft the 50 level.
Major Support Level – $210
Major Resistance Level – $220
