THELOGICALINDIAN - Key Highlights
Ethereum amount confused aback college against the US Dollar and Bitcoin. ETH/USD charge beat the $142 attrition to abide college in the abreast term.
Ethereum Price Analysis
This accomplished week, ETH amount declined beneath the $130 and $120 abutment levels adjoin the US Dollar. The ETH/USD brace traded as low as $112.80 and after formed a solid support. It seems like the $112 breadth and the 100 simple affective boilerplate (4-hours) provided support. Later, the amount started a able upside move and traded aloft the $125 and $134 attrition levels.
There was a breach aloft the 50% Fib retracement akin of the contempo abatement from the $152 beat aerial to $112 beat low. Moreover, there was a breach aloft a above bearish trend band with attrition at $122 on the 4-hours blueprint of ETH/USD. The brace additionally austere the $138 resistance, but it struggled to bright the $142 resistance. Besides, the 76.4% Fib retracement akin of the recent decline from the $152 beat aerial to $112 beat low additionally acted as a resistance. The amount is currently trading in a ambit abreast the $130 akin and it may accomplish the abutting move soon.
The aloft chart indicates that ETH amount could dip a few credibility appear the $128 or $122 akin afore the abutting upside move. A breach aloft the $142 and $144 attrition levels may bright the aisle for added gains. The abutting attrition is at $152 followed by $155.
4-hours MACD – The MACD is hardly placed in the bullish zone.
4-hours RSI – The RSI is placed aloof aloft the 50 level.
Major Support Level – $128
Major Resistance Level – $142
