THELOGICALINDIAN - Key Highlights
Ethereum amount is trading abreast acute levels against the US Dollar and Bitcoin. ETH/USD charge beat the $207 and $214 levels to accretion upside momentum.
Ethereum Price Analysis
This accomplished week, there was a slow and abiding decline beneath the $215 akin in ETH amount adjoin the US Dollar. The ETH/USD brace alike traded beneath the $200 abutment and acclimatized beneath the 100 simple affective boilerplate (4-hours). The amount traded as low as $196 and after started an upside correction. It traded aloft the $200 akin and recovered added than 2%.
During the climb, it bankrupt the 23.6% Fib retracement akin of the contempo abatement from the $219 aerial to $196 low. However, there is a able attrition formed abreast $207 and the 100 simple affective boilerplate (4-hours). There were a brace of rejections abreast $207-208 and it may abide to anticipate gains. It additionally represents the 50% Fib retracement akin of the contempo abatement from the $219 aerial to $196 low. Therefore, a acknowledged abutting aloft the $207 akin and the 100 simple affective average (4-hours) is bare for added assets in the abreast term.
The aloft chart indicates that ETH amount is trading abreast acute levels with abutment abreast $201. There is additionally a aloft bullish trend band with abutment at $201 on the aforementioned chart. Therefore, the amount may anon accomplish the abutting move either aloft $207-208 or beneath $201. Aloft $208, the amount is acceptable to analysis the abutting key attrition at $214.
4-hours MACD – The MACD is hardly placed in the bullish zone.
4-hours RSI – The RSI is currently abreast the 55 level.
Major Support Level – $201
Major Resistance Level – $207
