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ETH to USD: Ethereum Price Analysis, Bulls getting stronger?

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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 Levels: $140, $139

Resistance Levels: $143, $145

 

Key Points:

  • After rising up to $146, Ethereum price started to correct downwards and tested the support around $139 and $140.
  • A lot of buyers emerged around $140 and $139 support levels and pushed the price back upwards.
  • ETH was able to break through a bearish pattern line which was formed with resistance around $141 on the hourly chart.
  • Ethereum price is currently moving upwards and might test $145 resistance level soon.

 

Ethereum Price Analysis:

Summary: Ethereum price is well supported at around $139 and $140. ETH is currently moving upwards and might soon test $145 resistance level.

Ethereum price started to correct downwards after rising up to $146. ETH moved below $142 support level and tested the support around $139 and $140. Buyers were able to push the price upwards from this range. Ethereum started an upward correction from the 100 hourly SMA and $139 support and soon moved above $140.

ETH was able to break through a bearish pattern line which was formed with resistance around $141 on the hourly chart. Ethereum price was able to close above $142 resistance level and but is currently facing a lot of sellers around $143. However, the major resistance lies at $145 above which the next resistance is at $150. If ETH price is able to break through $143 and $145 resistance, the overall momentum should turn quite bullish and Ethereum might even break through $150 resistance in the short term. The major support lies around $140 and $139 below which the price might turn bearish.

ETHUSD Price Chart 1 April
ETH/USD Price Chart 1 April

The chart shows that Ethereum price is well supported at $139 and $140 support levels and the 100 hourly SMA. If Ethereum is able to remain above this support range and break through the $143 and $145 resistance levels, it might soon move above $150. However, a break below $139 support level will turn the overall momentum bearish.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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