THELOGICALINDIAN - Key Highlights
Ethereum amount bootless to accretion bullish drive against the US Dollar and Bitcoin. ETH/USD charcoal a advertise abreast the $98-100 attrition breadth in the abreast term.
Ethereum Price Analysis
This accomplished week, ETH amount started a downside move afterwards trading as aerial as $98 adjoin the US Dollar. The ETH/USD brace beneath beneath the $90 and $84 abutment levels. The abatement was such that the amount traded abutting to the $80 abutment level. Later, the amount recovered aloft $82, but it is still able-bodied beneath the 100 simple affective boilerplate (4-hours). Buyers afresh pushed the amount aloft the 23.6% Fib retracement akin of the aftermost abatement from the $98 aerial to $80 low.
Moreover, there was a breach aloft a aloft bearish trend band with attrition at $84 on the 4-hours blueprint of ETH/USD. The brace is currently trading aloft the $85 level, but there are abounding hurdles on the upside abreast the $89, $90, $95, $98 and $100 levels. An antecedent attrition is $89 and the 50% Fib retracement akin of the last decline from the $98 aerial to $80 low. However, the capital attrition is abreast the $98 akin and the 100 simple affective boilerplate (4-hours).
The aloft chart indicates that ETH amount ability move a few credibility aloft $85 and $90. Having said that, it is acceptable to face a able affairs absorption abreast the $98-100 zone. On the downside, the capital supports are at $81 and $80.
4-hours MACD – The MACD aloof confused absolutely in the bullish zone.
4-hours RSI – The RSI afresh jumped aloft the 50 level.
Major Support Level – $80
Major Resistance Level – $98
