THELOGICALINDIAN - Ethereum amount is afterward a solid bullish aisle adjoin the US Dollar but disturbing adjoin bitcoin ETH is acceptable ambience up for a beginning access for 180 and 200 while BTC is already accepting momentum
Ethereum Price Weekly Analysis
This accomplished week, ETH amount started a able advancement move afterwards it bankrupt the $140 and $145 resistances adjoin the US Dollar. There was a awful acceleration aloft the $155 attrition akin and the 100 simple affective boilerplate (4-hours). Buyers acquired ascendancy and pushed the amount aloft the $165 and $170 attrition levels. The amount traded to a new annual aerial at $182 and after started a downside correction. There were a few beat moves, but assuredly a low and abutment was formed abreast the $154 level.
Ether amount recovered afresh and confused aloft the $165 level. There was a breach aloft 50% Fib retracement akin of the aftermost alteration from the $180 aerial to $154 beat low. However, the amount seems to be facing a able resistance abreast the $170 and $172 levels. Besides, the 61.8% Fib retracement akin of the aftermost alteration from the $180 aerial to $154 beat low additionally acted as a hurdle for buyers. At the moment, there are two bullish trend curve in abode with abutment abreast $159 and $153 on the 4-hours blueprint of ETH/USD.
More importantly, it seems like there is a blemish triangle in abode with attrition abreast $170. A acknowledged breach aloft the triangle and $172 is acceptable to advance the amount higher. The abutting stop for buyers could be abreast the $180 beat high. Aloft $180, the capital ambition is acceptable to be $200.
The aloft chart indicates that Ethereum is acutely trading with a absolute accent aloft $155 and $160. Even if there is a downside correction, the amount charcoal accurate abreast $160 and $155. Only a circadian abutting beneath the $152 akin and the 100 simple affective boilerplate (4-hours) ability access affairs pressure.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is about to move aback in the bullish zone.
4 hours RSI – The RSI for ETH/USD is currently positioned able-bodied aloft the 55 level.
Major Support Level – $160
Major Resistance Level – $180
