EagleFX

Ethereum price climbed further and broke the $146.00 and $150.00 resistance levels. ETH/USD traded close to the $154.00 level and it is currently correcting lower towards the $144.00 support.

  • Ethereum price remained in an uptrend and recently broke the $150.00 resistance.
  • ETH/USD is following a solid bullish trend line with support at $147.00 on the 30-minute chart.
  • The price could correct lower in the short term, but declines could be limited near $145.00.

Ethereum ETH Price

Ethereum Price Analysis

The past few days were excellent for Ethereum price as it broke key resistances near $130.00 and $140.00. ETH even broke the $150.00 resistance area recently and dragged bitcoin, EOS, litecoin and ripple into the bullish zone.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair settled above the $138.00 and $140.00 resistance levels. Later, there was a fresh rally and the price surpassed the $146.00 and $150.00 resistance levels. It traded close to the $154.00 level and a new monthly high was formed at $153.78.

At present, the price is correcting lower below the $152.00 level and the 23.6% Fib retracement level of the recent leg from the $139.30 low to $153.78 high. However, there are many supports near $158.00, $157.00, and the 25 simple moving average (30-min).

Moreover, there is a solid bullish trend line in place with support at $147.00 on the same chart. The current price action is slightly bearish, suggesting a break below the trend line and $146.00.


Cryptorocket

The next key support is near the $145.00 level and the 61.8% Fib retracement level of the recent leg from the $139.30 low to $153.78 high. The key pivot level could be $142.00 and the 76.6% Fib retracement level of the same leg.

Should ETH trade below the $142.00 support, it could decline towards the $138.00 and $136.00 levels. On the other hand, if Ethereum price stays above the $145.00 support, there are high chances of a fresh rally above the $152.00 and $155.00 resistances in the coming sessions. The next major resistance is near the $162.00-163.00 area.

The market data is provided by TradingView, Bitfinex.


Buy Crypto    Trade Crypto
eToro Risk Warning: 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Avatar

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.


All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

Leave a reply

Your email address will not be published. Required fields are marked *