THELOGICALINDIAN - Key Highlights
Ethereum amount fell decidedly against the US Dollar and Bitcoin. ETH/USD is acceptable to analysis the $100 abutment akin because the accepted amount action.
Ethereum Price Analysis
The accomplished few sessions were very bearish beneath the $130 akin in ETH amount adjoin the US Dollar. The ETH/USD brace started a beginning abatement from the $130 beat aerial and alone added than 10%. The abatement was such that the amount bankrupt the $120 and $110 levels as well. The amount is now trading able-bodied beneath the $120 akin and the 100 simple affective boilerplate (4-hours).
Sellers pushed the amount in a awful bearish area beneath $110. A new annual low was formed at $105 and it seems like the accepted declivity is not over. The amount is acceptable to advance declines beneath $105 in the abreast term. The abutting abutment is at $100, beneath which sellers could advance the amount appear the $90 level. On the upside, an antecedent attrition is at the 23.6% Fib retracement akin of the aftermost abatement from the $145 aerial to $105 low. There is additionally a acute bearish trend band formed with attrition at $115 on the 4-hours blueprint of ETH/USD. Above the trend line, the abutting major resistance for buyers is abreast the $122 level.
The aloft chart indicates that ETH amount acutely disturbing a lot beneath $120. There are aerial affairs of a downside breach beneath $100 in the abreast term. On the upside, resistances are apparent abreast $115 and $122.
4-hours MACD – The MACD is placed heavily in the bearish zone.
4-hours RSI – The RSI is currently abreast the acute oversold zone.
Major Support Level – $100
Major Resistance Level – $122
