THELOGICALINDIAN - Key Highlights
Ethereum amount is advancing for the abutting move against the US Dollar and Bitcoin. ETH/USD could acceleration acutely college already there is a breach aloft $204 and $208.
Ethereum Price Analysis
This accomplished week, there were mostly range moves beneath the $205 akin in ETH amount adjoin the US Dollar. The ETH/USD brace traded a few credibility lower and bankrupt the $200 level. The amount alike acclimatized beneath $205 and the 100 simple affective boilerplate (4-hours). It traded abutting to the $196-197 abutment area, which acted as a able buy zone. Later, the amount recovered aloft $200, but assets were limited.
The amount acicular aloft the 50% Fib retracement akin of the aftermost bead from the $206 aerial to $197 low. However, buyers bootless to accretion drive aloft the $204 akin and the 100 simple affective boilerplate (4-hours). Besides, there was a bounce abreast the 76.4% Fib retracement akin of the last drop from the $206 aerial to $197 low. The amount aloof and it is currently trading abreast the $201 level. At the outset, there is a monster blemish arrangement formed with attrition at $204 on the 4-hours blueprint of ETH/USD.
The aloft chart indicates that ETH amount is advancing for the abutting aloft breach either aloft $204 or beneath $197. Aloft $204, the amount needs to bright the $208 ambit attrition for added gains. On the added hand, a abutting beneath $197 may conceivably advance losses appear the $180 akin in the abreast term.
4-hours MACD – The MACD is collapsed in the bullish zone.
4-hours RSI – The RSI is currently able-bodied aloft the 50 akin with a absolute angle.
Major Support Level – $197
Major Resistance Level – $204
