Ethereum price is facing a lot of hurdles near $140.00. ETH/USD remains at a risk of more losses unless buyers gain strength above $139.20 and $140.00.

Ethereum Price

  • Ethereum price extended losses this past week and tested the $135.00 support.
  • ETH recovered and it is currently trading inside a contracting triangle with resistance at $138.60 on the 30-minute chart.
  • There could be a fresh decline if the price continues to fail near $138.60, $139.20 and $140.00.

Ethereum Price Analysis

In the last two Ethereum price prediction, we discussed the chances of a downside extension of 5% towards the $135.00 support level. ETH did decline below $138.00 and tested the $135.00 support before starting an upside correction, but bitcoin price was comparatively stable above near $4,000.

Ethereum Price Analysis ETH Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair traded as low as $135.00 and later corrected higher. It traded above the $138.50 resistance level and the 25 simple moving average (30-min).

However, the price failed to gain strength above the $140.00 resistance area. The price formed a high at $140.70 and later declined below the $138.50 level. A swing low was formed at 136.39 and the price recently moved above the 23.6% Fib retracement level of the last drop from the 140.70 high to 136.69 low.

However, the $138.50 level is acting as a resistance along with the 50% Fib retracement level of the last drop from the 140.70 high to 136.69 low.


Besides, it seems like the price is trading inside a contracting triangle with resistance at $138.60 on the same chart. Therefore, the price is likely setting up for the next break either above $138.50 or below the $136.60 swing low.

On the upside, there are many resistances near $138.60, $139.20 and $140.00. Therefore, if Ether buyers continue to struggle near the $139.20 or $140.00 resistance, there are chances of another bearish reaction in ETH towards the $135.00 or $133.50 levels in the coming sessions. On the other hand, a successful close above $140.00 and $140.70 could set the pace for a move towards $150.00.

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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