THELOGICALINDIAN - Key Highlights
Ethereum amount acquired a lot of bids against the US Dollar and Bitcoin. ETH/USD bankrupt the $125 attrition and it may now ascend appear the $140 level.
Ethereum Price Analysis
This accomplished week, ETH amount followed a solid bullish formation from the $96 beat low adjoin the US Dollar. The ETH/USD brace traded aloft the $100 and $110 attrition levels. There was alike a able abutting aloft the $110 akin and the 100 simple affective boilerplate (4-hours). An average aerial was formed at $117 afore the amount adapted lower. However, losses were adequate abreast the $105-106 area and the amount animation aback later.
It bankrupt the $115 and $125 attrition levels to barter to a new account aerial aloft $128. The amount is currently in a solid uptrend aloft the $115 and $12 level. An antecedent abutment is the 23.6% Fib retracement akin of the contempo beachcomber from the $105 low to $129 high. Moreover, there is a major bullish trend line formed with abutment at $114 on the 4-hours blueprint of ETH/USD. The 50% Fib retracement akin of the contempo beachcomber from the $105 low to $129 aerial is additionally at $117. Therefore, there are abounding support, starting with $124, and up to $114.
The aloft chart indicates that ETH amount is placed accurately aloft the $114-115 zone. Buyers abide in ascendancy and they are acceptable to advance the amount appear the $135 or $140 level.
4-hours MACD – The MACD is accepting drive in the bullish zone.
4-hours RSI – The RSI afresh jumped aloft the 70 level.
Major Support Level – $115
Major Resistance Level – $135
