ETH Price Analysis: Ethereum off to $150?

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Janet F. Sanchez
Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

Technical Indicators:

Support Level: $137

Resistance Level: $144

 

Key Points:

  • ETH Price started to correct downwards recently and tested the $137 support level.
  • ETH Price will most likely test the $142 resistance level in the short term.
  • Ethereum must break the $142 and $144 resistance level in order to move towards $150.

 

ETH Price Analysis:

Summary: ETH Price is currently trading positively against both USD and BTC. Ethereum will most likely move towards $150 after it breaks the current resistance around $142 and $144.

Ethereum showed bullish moves this week after breaking the major resistance around $134, 136 and $140. ETH price reached to a weakly high at $144 before it started to correct downwards. The downward momentum was able to break the $140 support level, however, Ethereum was well supported at $137 and the 100 hourly SMA which was able to stop further losses.

Currently, ETH price is trading well above $137 support level after the recent decline from $144 to $137. Ethereum could face hurdles in trying to move upwards, however, the overall momentum is still bullish and Ethereum will most likely test the $142 resistance soon.

However, the major resistance is around $144 and if ethereum is able to break this resistance, it could move upwards directly to test the next resistance around $150. On the downside, the major support is at $137 beneath which the price could test $134 support level.

ETHUSD Price Chart
ETH/USD Price Chart

The chart shows that Ethereum recently corrected downwards, however, the support around $137 was strong enough to stop further losses. If the buying pressure increases, it could lead to Ethereum breaking the $144 resistance and move towards $150. However, If Ethereum breaks below $137 support, it could test $134 before moving further downwards.

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