THELOGICALINDIAN - Ethereum amount is assuming changeabout signs aloft 215 against the US Dollar agnate to bitcoin ETH amount is acceptable to abide college and dips appear 218 acceptable charcoal supported
Ethereum Price Analysis
Yesterday, we saw a downside addendum in Ethereum amount beneath $210 adjoin the US Dollar. The ETH/USD brace alike bankrupt the $205 akin and activated the $200 abutment level. The beasts managed to avert the $200 handle and the amount started a appropriate recovery. There was a breach aloft the $210 and $215 attrition levels to alpha the accepted advancement move. Moreover, the amount alike surpassed the $220 attrition and the 100 alternate simple affective average.
Besides, yesterday’s accent key bearish trend line was breached with attrition abreast $212 on the alternate blueprint of ETH/USD. The brace is now trading accurately aloft the 50% Fib retracement akin of the bottomward move from the $236 aerial to $200 low. The accepted amount activity indicates the affairs of added assets aloft the $225 akin in the abreast term.
An actual attrition is abreast the $228-230 zone. Moreover, the 76.4% Fib retracement akin of the bottomward move from the $236 aerial to $200 low is acceptable to act as a attrition abreast $228. If there are added assets aloft $228 and $230, the amount could abide to rise. The abutting stop for the beasts could be abreast the $236 beat high.
On the added hand, if the amount corrects lower, it ability acquisition bids abreast the $220 support. Additionally, the $218 akin and the 100 alternate SMA are additionally able supports. As continued as the amount is trading aloft the 100 hourly, it is acceptable to breach the $228 and $230 attrition levels.
Looking at the chart, Ethereum amount is assuming a lot of absolute signs aloft the $218 level. The abstruse anatomy is positive, suggesting added upsides aloft $230. Only a abutting beneath $216 and the 100 alternate SMA ability abate the accepted bullish appearance in the abreast term.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is accepting drive in the bullish zone, with absolute signs.
Hourly RSI – The RSI for ETH/USD is accepting clip appear 80 and it is currently able-bodied aloft the 60 level.
Major Support Level – $216
Major Resistance Level – $230
