THELOGICALINDIAN - Ethereum amount is aback in a bearish area beneath 190 against the US Dollar agnate to bitcoin ETH amount is acceptable to abide lower as continued as it is beneath 195
Ethereum Price Analysis
Yesterday, we saw an upside alteration in ETH and bitcoin aloft $192 and $10,200 appropriately adjoin the US Dollar. However, Ether struggled to accretion drive aloft the key $195 attrition level. As a result, there was a beginning bearish beachcomber beneath the $192 and $190 abutment levels. Moreover, the amount alike acclimatized beneath the $192 akin and the 100 alternate simple affective average.
Ethereum amount additionally bankrupt the 50% Fib retracement akin of the aftermost beachcomber from the $182 beat low to $196 beat high. During the decline, there was a breach beneath a above bullish trend band with abutment at $190 on the alternate chart. The amount is now trading able-bodied beneath the $190 akin additional the 61.8% Fib retracement akin of the aftermost beachcomber from the $182 beat low to $196 beat high.
Additionally, there is a abbreviate appellation blemish arrangement basic with abutment abreast $186 on the aforementioned chart. If there is a downside breach beneath the $186 and $185 supports, there could be added downsides. The abutting key abutment is abreast the $182 level, beneath which the amount could revisit the $180 support. If there are added losses, the amount is acceptable to tumble appear the $170 abutment area.
On the upside, an antecedent attrition is abreast the $188 and $190 levels. Aloft $190, Ethereum amount ability ascend appear the $195 attrition area. However, the capital account hurdle for the beasts abide abreast $200, aloft which the amount is acceptable to about-face absolute and move into an uptrend.
Looking at the chart, Ethereum amount is acutely trading with a abrogating bent and yesterday’s accretion bootless abreast $195. Therefore, there are affairs of added downsides beneath the $185 and $180 abutment levels. The abutting stop could be $170, area the beasts may booty a stand.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is accepting drive in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently able-bodied beneath the 50 level.
Major Support Level – $180
Major Resistance Level – $192
