THELOGICALINDIAN - Ethereum amount is adverse hurdles abreast 175 against the US Dollar while bitcoin is accumulation ETH amount could abatement afresh afore it attempts a beginning increase
Ethereum Price Analysis
Yesterday, we saw a bearish acknowledgment in ETH amount beneath the $178 akin adjoin the US Dollar. However, bitcoin amount remained able-bodied bid aloft the $10,400 and $10,500 abutment levels. Recently, Ethereum amount continued its abatement beneath the $175 akin and the 100 alternate simple affective average. Moreover, there was a breach beneath the $172 akin and the amount activated the $170 abutment area.
A beat low was formed abreast $170 and the amount is currently acclimation higher. It traded aloft the $172 attrition level. Moreover, the amount climbed aloft the 23.6% Fib retracement akin of the bottomward move from the $183 aerial to $170 beat low. More importantly, there was a breach aloft a above crumbling approach with attrition abreast $173 on the alternate blueprint of ETH/USD.
However, Ethereum amount seems to be adverse a able attrition abreast the $175 level. Additionally, the 100 alternate simple affective boilerplate is additionally endlessly assets abreast the $175 level. The abutting key attrition is abreast the $178 level. It coincides with the 50% Fib retracement akin of the bottomward move from the $183 aerial to $170 beat low. The capital hurdles for the beasts are still abreast the $180 and $182 levels.
On the downside, an actual abutment is abreast the $172 level. The capital abutment is now abreast the $170 level, beneath which there is a accident of addition bead appear the $168 support. The abutting key abutment is abreast the $162 axis level.
Looking at the chart, Ethereum amount is acutely disturbing to bright the $175 attrition breadth and the 100 alternate SMA. Therefore, there could be addition bearish acknowledgment afore the amount attempts an upside breach aloft $175. The abutting key resistances are abreast the $178 and $180 levels. A acceptable abutting aloft the $180 akin is bare for a abiding advancement move.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently placed in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently able-bodied aloft the 50 level, with a absolute bias.
Major Support Level – $170
Major Resistance Level – $178
