THELOGICALINDIAN - Ethereum amount is bottomward added than 10 against the US Dollar afterward bitcoin amount accelerate ETH amount is now trading in a bearish area and it could alike analysis the 180 level
Ethereum Price Analysis
Yesterday, we saw a aciculate abatement in bitcoin price beneath the $11,000 support. However, ETH amount remained abiding aloft the $200 level. Later, BTC continued its abatement beneath $200, which sparked a aciculate selloff in Ethereum price. As a result, there was a breach beneath the key $202 and $200 abutment levels adjoin the US Dollar. More importantly, the amount bankrupt the $192 abutment and acclimatized beneath the 100 alternate simple affective average.
A new account low was formed abreast $181 and the amount is currently accumulation losses. It is trading abreast the $188 akin additional the 23.6% Fib retracement akin of the contempo accelerate from the $210 aerial to $181 low. On the upside, there are abounding hurdles abreast the $192 and $195 levels. Moreover, the 50% Fib retracement akin of the contempo accelerate from the $210 aerial to $181 low is additionally abreast the $195 level.
The capital attrition on the upside is abreast the $200 akin (the antecedent support). The 61.8% Fib retracement akin of the contempo accelerate from the $210 aerial to $181 low is additionally abreast the $200 level. Finally, yesterday’s accent key bearish trend band is complete with attrition abreast $206 on the alternate blueprint of ETH/USD. Therefore, an upside alteration is acceptable to face a able affairs absorption abreast the $195 and $200 levels.
On the downside, an actual abutment is abreast the $185 level, beneath which the amount could revisit the $181 beat low. If there are added downsides, the amount could alike breach the $180 support.
Looking at the chart, Ethereum amount is trading in a aloft declivity from able-bodied aloft $220. If it continues to slide, the affairs of a able animation aloft $200 ability decrease. The capital supports on the downside are abreast $180, $178 and $175, area the beasts ability booty a stand.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is boring abbreviation its bearish slope.
Hourly RSI – The RSI for ETH/USD is currently convalescent from the oversold readings.
Major Support Level – $180
Major Resistance Level – $195
