THELOGICALINDIAN - Key Highlights
Ethereum amount is captivation assets against the US Dollar and Bitcoin. ETH/USD could barter added college as continued as it is aloft the $225 support.
Ethereum Price Analysis
This accomplished week, there was a decent abutment base formed abreast the $215-216 area in ETH amount adjoin the US Dollar. The ETH/USD brace started an upside move and bankrupt the $218, $220 and $225 attrition levels. The amount confused into a bullish area aloft the $225 level. It additionally acclimatized aloft the $220 axis akin and the 100 simple affective boilerplate (4-hours).
There was additionally a breach aloft the 50% Fib retracement akin of the aftermost abatement from the $256 aerial to $203 low. During the upside move, there was a breach aloft a aloft application triangle with attrition at $228 on the 4-hours blueprint of ETH/USD. The brace activated the $235-236 attrition area and it is currently accumulation gains. It seems like the 61.8% Fib retracement akin of the aftermost abatement from the $256 aerial to $203 low is acting as a resistance. If there is a breach aloft the $236 resistance, there could be more gains in the abreast term. On the added hand, dips appear the $225 akin and the 100 simple affective boilerplate (4-hours) charcoal supported.
The aloft chart indicates that ETH amount could ascend added college as continued as the amount is aloft $220 and $225. Below $220, the amount could extend its accelerate appear the $216 abutment level.
4-hours MACD – The MACD is boring affective aback into the bullish zone.
4-hours RSI – The RSI is currently able-bodied beneath the 55 level.
Major Support Level – $225
Major Resistance Level – $236
