THELOGICALINDIAN - Key Highlights
Ethereum amount is adverse boxy challenges against the US Dollar and Bitcoin. ETH/USD may conceivably abatement already afresh if it fails to move aloft $200-202.
Ethereum Price Analysis
This accomplished week, there was a decent recovery accomplished from the $191 abutment breadth in ETH amount adjoin the US Dollar. The ETH/USD brace traded college and bankrupt the $194 and $197 attrition levels. Besides, there was a breach aloft the 50% Fib retracement akin of the aftermost bead from the $205 aerial to $191 low. However, the amount faced a able attrition breadth abreast the $201-202 zone.
The amount was alone abreast the $202 akin and the 100 simple affective boilerplate (4-hours). More importantly, there is an important bearish trend band in abode with attrition at $200 on the 4-hours blueprint of ETH/USD. Additionally, there was no abutting aloft the 61.8% Fib retracement akin of the aftermost bead from the $205 aerial to $191 low. The amount is now trading able-bodied beneath the $202 akin and the 100 SMA. An actual abutment is at $197, beneath which the amount is acceptable to advance appear $194. On the added hand, buyers charge to bright the $202 akin and the 100 simple affective boilerplate (4-hours) to accretion upside momentum.
The aloft chart indicates that ETH amount is adverse a solid hurdle abreast the trend band and $202. As continued as there is no abutting aloft $202, the amount may abatement already again.
4-hours MACD – The MACD is affective aback in the bearish zone.
4-hours RSI – The RSI aloof bankrupt the 50 akin with a abrogating angle.
Major Support Level – $197
Major Resistance Level – $202
