THELOGICALINDIAN - Key Highlights
Ethereum amount beneath heavily this accomplished anniversary against the US Dollar and Bitcoin. ETH/USD charcoal in a declivity as continued as it is beneath $100 and $114.
Ethereum Price Analysis
This accomplished week, ETH amount was alone abreast the $125-126 attrition area adjoin the US Dollar. The ETH/USD brace started a significant downside move and traded beneath the $110, $105 and $100 abutment levels. There was alike a abutting beneath $105 and the 100 simple affective boilerplate (4-hours). Sellers pushed the amount beneath the $100 and $90 levels. A new annual low was formed abreast $80 and after the amount adapted higher.
There was a appropriate alteration aloft the $90 resistance. The amount confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $125 aerial to $80 low. However, the upside alteration was capped abreast the $103-104 area. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $125 aerial to $80 low prevented gains. There is additionally a acute bearish trend band formed with attrition at $101 on the 4-hours blueprint of ETH/USD. The brace aloof and confused aback beneath the $100 level. It is currently abreast $90 and it seems like upsides abide capped abreast $96 and $99.
The aloft chart indicates that ETH amount is in a above declivity beneath the $105 and $114 levels. If the amount continues to move down, it could alike breach the $80 beat low. The abutting key abutment is at $72 and $65.
4-hours MACD – The MACD is boring affective in the bullish zone.
4-hours RSI – The RSI has recovered aloft the 40 level.
Major Support Level – $80
Major Resistance Level – $101
