THELOGICALINDIAN - Key Highlights
Ethereum amount is adverse abounding barriers against the US Dollar and Bitcoin. ETH/USD charcoal at a accident of added losses as continued as it is beneath $212.
Ethereum Price Analysis
This accomplished week, there was a sharp downside move from the $234 attrition area in ETH amount adjoin the US Dollar. The ETH/USD brace confused and bankrupt the $206 and $200 abutment levels. It activated the $184-185 abutment and formed a low at $184.5. The amount after started an upside alteration aloft $190, but it is still way beneath the 100 simple affective boilerplate (4-hours).
It has confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $230 aerial to $184 low. However, there are abounding resistances on the upside abreast the $206, $207, $208 and $212 levels. There are additionally two important bearish trend curve in abode with attrition at $208 and $218 on the 4-hours blueprint of ETH/USD. Below the aboriginal trend line, the 50% Fib retracement akin of the last decline from the $230 aerial to $184 low is at $207. Around the trend band and the $207 resistance, the 100 SMA is additionally positioned. Therefore, it won’t be accessible for buyers to bright the $207 attrition and the 100 SMA.
The aloft chart indicates that ETH amount is adverse a lot of hurdles on the upside beneath $212. A able abutting aloft $207 and $212 may advance the amount aback in a absolute zone. On the downside, the $190 and $184 levels are appropriate supports.
4-hours MACD – The MACD is boring affective in the bullish zone.
4-hours RSI – The RSI is currently abreast the 40 level.
Major Support Level – $190
Major Resistance Level – $207
