THELOGICALINDIAN - Ethereum amount is placed in a solid uptrend against the US Dollar and Bitcoin ETHUSD could analysis the 139 abutment breadth afore it starts a beginning bullish beachcomber aloft 144
Ethereum Price Analysis
This accomplished week, ETH amount formed a solid abutment abject abreast the $137 akin adjoin the US Dollar. The ETH/USD brace started a solid upside move and traded aloft the $139 and $142 attrition levels. There was a acknowledged abutting aloft the $139 akin and the 100 simple affective boilerplate (4-hours). It austere the aisle for added assets and the amount traded aloft the $144 attrition area. It traded abutting to the $146 attrition akin and after started a abundant downside correction.
The amount traded beneath the $142 akin and the 50% Fib retracement akin of the aftermost beachcomber from the $137 low to $145 beat high. However, the amount begin a strong affairs interest aloft the key $139 abutment area. Moreover, there is a above ascendance approach in abode with abutment at $140 on the 4-hours blueprint of ETH/USD. The 61.8% Fib retracement akin of the aftermost beachcomber from the $137 low to $145 beat aerial additionally acted as a support. The amount recovered, but the $142 breadth is acting as a hurdle.
It seems like there could be addition dip in ETH amount beneath the $140 level. However, the $139 abutment area is acceptable to act as a acute buy zone. As continued as there is no circadian abutting beneath the $139 level, the amount is acceptable to animation aback in the abreast term.
The aloft chart indicates that ETH amount is acutely placed in an uptrend, but beasts charge to anticipate the $139 abutment area. On the upside, a breach aloft the $142 and $144 levels is bare for added gains. The abutting key attrition is abreast $146, aloft which the amount is acceptable to analysis the $150 attrition level.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is boring affective in the bearish zone, with a few abrogating signs.
4 hours RSI – The RSI for ETH/USD is currently acclimation lower from the 75 akin and it could analysis 55.
Major Support Level – $139
Major Resistance Level – $144
