Ethereum price surged above the key $145.00 resistance and broke $150.00. There were strong bullish moves in ETH. XRP, BTC, IOST and TRX in the past few hours.

  • Ethereum price rallied above the $145.00 and $150.00 resistance levels.
  • There was a break above a key bearish trend line with resistance at $144.00 on the 30-minute chart.
  • ETH settled above the $150.00 level and it could continue to move higher in the near term.

Ethereum Price

Ethereum Price Analysis

The crypto market turned green today, with a strong rally in bitcoin above the $4,750 resistance. BTC rallied close to 18% and dragged a few altcoins higher, including Ethereum and ripple. ETH broke a major resistance near the $145.00 level to start a rally above the $150.00 barrier.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair tested the $141.00 support area and later started trading in a range. Finally, buyers took charge, resulting in a strong bullish break above the $145.00 resistance and the 25 simple moving average (30-min).

The price gained bullish momentum above a key bearish trend line with resistance at $144.00 on the same chart. It opened the doors for more gains and the price broke the last swing high at $149.17.

Finally, ETH surged above the $150.00 and $154.00 resistance levels. A new monthly high was formed ear $156.00 and the price is currently correcting lower. It traded below the 23.6% Fib retracement level of the recent rally from the $141.38 low to $156.61 high.

It even spiked below the $150.00 level, but the previous swing high near $149.00 acted as a support. Besides, the 50% Fib retracement level of the recent rally from the $141.38 low to $156.61 high also acted as a support.

It seems like dips in Ethereum price remains supported near $149.00 and $150.00. It could trade in a range for some time before a fresh increase towards the $155.00 and $156.00 levels. The next key resistance for ETH is close to the $160.00 level, where sellers may emerge.

The market data is provided by TradingView, Bitfinex.

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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.

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