Ethereum possible breakout nears if BTC could hold and push the USD/ETH price upward

Etherium

  • ETH price is under $185 and $180 supports against the US Dollar.
  • The price is currently trading near the $172 and $175 resistances.
  • There is a major chance of a break out if it goes above $180
  • There could be a short term upside slow move before a huge breakout

Above the trend line, the next major resistance is near the $184 level and the 100 SMA. The 61.8% Fib retracement level of the recent drop from the $195 high to $163 swing low is also waiting near the $182 zone to act as a resistance. Therefore, the price must climb above $180, $182 and $184 to move back into a positive zone in the near term.

  • 4 hours MACD – The MACD for ETH/USD is slowly gaining momentum in the bullish zone.
  • 4 hours RSI – The RSI for ETH/USD is currently just above the 50 level, with a positive angle.
  • Major Support Level – $165
  • Major Resistance Level – $180

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Mohsen Daemi
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