Ethereum price rallied recently and climbed more than 10% above $135.00. ETH/USD is placed in a strong uptrend and it seems like bulls are eyeing a test of the $150.00 resistance.

  • Ethereum price surged higher and broke the $128.00 and $135.00 resistance levels.
  • ETH/USD is placed nicely above a key bullish trend line with support at $136.00 on the 30-minute chart.
  • The price could extend gains above the $142.00 level and climb towards the $150.00 resistance.

Ethereum ETH Price

Ethereum Price Analysis

In the past few hours, Ethereum price gained a strong bullish momentum after it broke the $126.00 and $128.00 resistance levels. ETH outpaced bitcoin, ripple, litecoin, EOS and other cryptocurrencies to post more than 10% gains.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair rallied significantly after there was a clear break above the $128.00 and $130.00 resistance levels. The price even settled above the $132.00 level and the 25 simple moving average (30-min).

Buyers gained strength above the $135.00 and $140.00 resistance levels. A new monthly high was formed at $142.59 and the price is currently placed above the $140.00 level.

An initial support on the downside is $138.80 and the 23.6% Fib retracement level of the recent move from the $126.66 low to $142.59 high. However, the main support is near the $136.00 and $135.00 levels (the previous resistances).


Moreover, there is a key bullish trend line in place with support at $136.00 on the same chart. Besides, the 50% Fib retracement level of the recent move from the $126.66 low to $142.59 high is close to the $135.00 level.

Therefore, if there is a short term downside correction, buyers are likely to defend the $136.00 and $135.00 support levels. On the upside, an initial resistance is near the $142.50 level, above which the price may struggle near $145.00 and a connecting resistance trend line.

The main target for buyers could be $150.00, where Ethereum price is likely to face a strong selling interest. Overall, the current trend is super strong and it seems like ETH might continue to rise towards $145.00 and $150.00 in the near term.

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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