THELOGICALINDIAN - Key Highlights
Ethereum amount charcoal in a bearish area against the US Dollar and Bitcoin. ETH/USD charge bright the $117 and the $132 attrition to ascend appear $165.
Ethereum Price Analysis
After a aciculate decline, ETH amount traded abutting to the $100 abutment breadth adjoin the US Dollar. The ETH/USD brace traded as low as $98 and after started an upside correction. The amount formed a appropriate abutment abreast the $98-100 area and after climbed higher. It confused aloft the $110 and $115 attrition levels. There was alike a breach aloft the 23.6% Fib retracement akin of the aftermost bead from the $180 aerial to $98 low.
However, upside were capped by $125 and the amount remained able-bodied beneath the 100 simple affective boilerplate (4-hours). More importantly, there is a above bearish trend band formed with attrition at $117 on the 4-hours blueprint of ETH/USD. The brace is currently accumulation abreast the trend band and $115. Buyers charge to breach the $117 and again $120 resistances to ascend higher. The abutting above hurdle is abreast the $138-140 zone. It coincides with the 50% Fib retracement akin of the aftermost bead from the $180 aerial to $98 low.
The aloft chart indicates that ETH amount is disturbing to breach the $117 and $120 resistance. If buyers abide to struggle, there is a adventitious of a downside breach beneath $110. The capital abutment is at $100 followed by the $95 level.
4-hours MACD – The MACD is currently collapsed in the bearish zone.
4-hours RSI – The RSI is placed accurately aloft the 50 akin with a aloof angle.
Major Support Level – $100
Major Resistance Level – $117
