Ethereum price rallied recently above the $133.65 and $137.50 resistance levels. ETH/USD is back in a positive zone and it could accelerate higher towards the $145.00 and $150.00 resistances.

  • Ethereum price surged higher after it broke the key $127.65 and $133.65 resistances.
  • ETH/USD is now following a bullish trend line with support at $137.00 on the 30-minute chart.
  • The price could extend gains above $142.00 as long as it is trading above the $133.65 support.

Ethereum Price

Ethereum Price Analysis

The past two sessions changed the crypto market sentiment, with bullish moves in bitcoin, Ethereum, ripple, binance coin, EOS, litecoin, XLM and other altcoins. ETH/USD gained bullish momentum after it broke the key $127.65 and $133.65 resistance levels.

Ethereum Price Analysis ETH Prediction

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair started a solid upward move after it formed a support base near the $127.65 level. Buyers gained control and the price rallied above the $133.65 and $137.65 resistance levels.

There was even a close above the $135.20 pivot level and the 25 simple moving average (30-min). Finally, the price spiked above the $140.00 resistance and a new weekly high was formed at $142.71 before the price started a short term correction.

It traded below the $140.00 level and the 23.6% Fib retracement level of the latest wave from the $130.45 low to $142.71 high. However, the price found a strong support near the $136.00 and $137.65 levels.

At the outset, the price is following a bullish trend line with support at $137.00 on the same chart. There is also a short term breakout pattern formed, with resistance at $140.00. If there is an upside break above $140.00, the price is likely to climb further above the $142.71 high.

The next key resistance is at $145.00, above which the price could rally towards the $150.00 barrier. On the other hand, if Ethereum price corrects further, it could test the $135.20 support and the 61.8% Fib retracement level of the latest wave from the $130.45 low to $142.71 high. As long as ETH is above the $133.65 support, there are chances of more upsides above $140.00.

The market data is provided by TradingView, Bitfinex.



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Posted by Latika Mehrotra

Passionate about technology and science. Pursuing Doctorate in the field of Data Mining, Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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