THELOGICALINDIAN - Ethereum amount is placed accurately in a absolute area against the US Dollar and Bitcoin ETHUSD could anon accomplish the abutting move either aloft 125 or beneath the 119 support
Ethereum Price Analysis
This accomplished week, there was a solid advancement move aloft the $120 attrition in ETH amount adjoin the US Dollar. The ETH/USD brace traded appear the $125 area, area sellers emerged. Later, the amount started a aloft alliance arrangement beneath the $125 zone. During the consolidation, there were a few attempts to bright the $125 resistance, but buyers failed. Besides, there were bearish after-effects as able-bodied appear the $120 level. The aftermost beat low was formed at $115 and the aftermost beat aerial was abreast $124. The amount is currently trading abreast the $122 akin and able-bodied aloft the 100 simple affective boilerplate (4-hours).
The 23.6% Fib retracement akin of the aftermost beachcomber from the $115 low to $124 aerial is abreast the $122 akin to act as a support. It seems like there is a application triangle in abode with attrition at $124 on the 4-hours blueprint of ETH/USD. If there is an upside breach aloft the triangle attrition and $125, there are affairs of a solid upside continuation. The abutting attrition aloft $125 is abreast the $128 and $130 levels. The capital attrition is at $134, area sellers are acceptable to appear.
On the added hand, if there is a downside break beneath the $120 and $119 supports, there could be added losses. The abutting key abutment is at $118 and the 61.8% Fib retracement akin of the aftermost beachcomber from the $115 low to $124 high. Beneath $118, the amount could analysis $116 and the 100 simple affective boilerplate (4-hours).
The aloft chart indicates that ETH amount is acceptable advancing for the abutting key breach either aloft $124 or beneath $119 in the abreast term. Even if there is a downside break, the amount charcoal accurate aloft $115.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is about to move aback in the bullish zone.
4 hours RSI – The RSI for ETH/USD is currently able-bodied aloft the 50 level.
Major Support Level – $115
Major Resistance Level – $125
