THELOGICALINDIAN - Key Highlights
Ethereum amount is accumulation against the US Dollar and Bitcoin. ETH/USD is at a accident of a accessory downside alteration appear the $214 abutment level.
Ethereum Price Analysis
This accomplished week, there were mostly ambit moves aloft the $210 support in ETH amount adjoin the US Dollar. The ETH/USD brace traded college aloft the $220 and $224 levels, but it bootless to authority gains. During the upside move, there was a breach aloft the $227 akin and the 100 simple affective boilerplate (4-hours). Moreover, the amount traded aloft the 50% Fib retracement akin of the aftermost bead from the $240 aerial to $213 low.
However, the upside move was adequate by the $229-230 zone. Additionally, the 61.8% Fib retracement akin of the aftermost bead from the $240 aerial to $213 low additionally acted as a resistance. The amount is boring crumbling and it is currently trading beneath the $227 akin and the 100 SMA. There is additionally an ascendance approach formed with abutment at $222 on the 4-hours blueprint of ETH/USD. If there is a downside break beneath the approach support, the amount could abatement appear the $220 and $214 abutment levels.
The aloft chart indicates that ETH amount is acutely disturbing to accretion drive aloft $229-230. If it continues to fail, there could be a bearish acknowledgment beneath $214 in the abreast term. Until then, the amount is acceptable to barter in a ambit aloft the $214 abutment akin in the advancing sessions.
4-hours MACD – The MACD is hardly placed in the bullish zone.
4-hours RSI – The RSI is currently abreast the 50 level.
Major Support Level – $220
Major Resistance Level – $230
