THELOGICALINDIAN - Ethereum amount is currently captivation a cogent abutment adjoin the US Dollar while bitcoin is crumbling ETH amount is acceptable to acceleration appear 188 and 190
Ethereum Price Weekly Analysis
This accomplished week, Ethereum started a apathetic and abiding abatement from able-bodied aloft $190 adjoin the US Dollar. More importantly, ETH traded beneath the key $188 abutment to move into a abbreviate appellation bearish zone.
Moreover, there was a breach beneath the key $186 abutment area. Finally, the amount acicular beneath the $182 abutment and the 100 simple affective boilerplate (4-hours). However, the bears bootless to accretion backbone beneath $180.
As a result, Ethereum recovered aloft $182 and 100 simple affective boilerplate (4-hours). Besides, it traded aloft the 23.6% Fib retracement akin of the bottomward move from the $194 beat aerial to $180 low.
The amount alike climbed aloft a abutting bearish trend band with attrition abreast $184 on the 4-hours blueprint of ETH/USD. At the moment, the amount is accumulation aloft the $182 akin and the 100 SMA.
An actual attrition is abreast the $188 breadth (the antecedent support). Additionally, the 50% Fib retracement akin of the bottomward move from the $194 beat aerial to $180 low is additionally abreast the $188 level.
Therefore, an upside breach aloft the $188 attrition could advance the amount added higher. The abutting key attrition is abreast the $194 area. Any added upsides may conceivably set the clip for a breach aloft the $200 barrier.
On the downside, there are abounding key supports abreast the $180 and $178 levels. Furthermore, there is a acute bullish trend band basic with abutment abreast $180 on the aforementioned chart. Only a circadian abutting beneath the $178 abutment could alpha addition bottomward move appear the $160 level.
The aloft chart indicates that Ethereum amount is acutely captivation a brace of important uptrend supports abreast the $178 level. Thus, there are affairs of a beginning access aloft the $185 and $188 levels unless there is a bright breach beneath $178.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is about to move into the bullish zone.
4 hours RSI – The RSI for ETH/USD is currently beneath the 50 level, with a few bullish signs.
Major Support Level – $178
Major Resistance Level – $188
