THELOGICALINDIAN - Key Highlights
Ethereum amount is boring accepting drive against the US Dollar and Bitcoin. ETH/USD may actual lower in the abbreviate term, but dips abide supported.
Ethereum Price Analysis
This accomplished week, ETH amount followed a solid bullish path aloft the $120 axis breadth adjoin the US Dollar. The ETH/USD brace bankrupt the $142 attrition breadth and acclimatized aloft the 100 simple affective boilerplate (4-hours). Later, buyers acquired bullish drive and bankrupt the $150 and $154 attrition levels. The amount alike bankrupt the $160 akin and traded appear the $162 level.
A aerial was formed at $161.57 and after the amount started a downside correction. It beneath beneath the $154 abutment to move into a abbreviate appellation bearish zone. Sellers pushed the amount beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $128 low to $162 beat high. However, there are abounding supports on the downside abreast the $150 and $142 levels. Moreover, there is a acute bullish trend band formed with abutment at $148 on the 4-hours blueprint of ETH/USD. Beneath the trend line, the 50% Fib retracement akin of the contempo beachcomber from the $128 low to $162 beat aerial is at $145. Therefore, downsides abreast the $150 and $145 levels are acceptable to acquisition a strong affairs interest.
The aloft chart indicates that ETH amount charcoal in a appropriate uptrend aloft the $142 support. On the upside, a breach aloft the $162 beat aerial may accessible the doors for $170 and $180.
4-hours MACD – The MACD is hardly placed in the bearish zone.
4-hours RSI – The RSI is affective lower appear the 50 level.
Major Support Level – $142
Major Resistance Level – $162
