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ETH to USD: Ethereum Price Analysis, Bulls loosing pace?

Ethereum price is currently in a bullish momentum against both Bitcoin and USD. ETH might test $140 support before starting to rise again.

Technical Indicators:

Support Levels: $140, $139

Resistance Level: $142, $144, $146

Key Points:

  • Ethereum price was quite bullish this week and broke through $140 and $144 levels which were major resistances.
  • ETH is facing a downward correction currently, however, the support $140 is strong and most probably it will stop further losses.
  • A bullish pattern is formed with support around $140 on the hourly chart.
  • The bulls will remain in action until the price remains over $140 support.

Ethereum Price Analysis:

Summary: Ethereum price is currently in a bullish momentum against both Bitcoin and USD. ETH might test $140 support before starting to rise again.

ETH price momentum was bullish this week as Ethereum found good support around $137 which helped in the upward momentum. The buyers pushed the price above $140 and $142 resistance levels and Ethereum was able to close successfully over $140 and 100 hourly SMA. Further Ethereum even broke through the $144 resistance zone and even tested the $146 level after which the price started to correct downwards.

The price fell below $142 support level, however, the $139 and $140 support proved strong. Also, there is a bullish pattern line formed with support around $140 on the hourly chart. Currently, Ethereum price is testing the resistance around $142.

As long as Ethereum remains above $140 support, there are chances of another bullish spike, however, if ETH price falls below $140 and $139 support, it might turn bearish.

ETHUSD Price Chart 31 March
ETH/USD Price Chart 31 March

The chart shows that ETH is currently in a bullish trend, however, the buyers need to maintain support around $140. Etherum is currently facing two major resistances around $142 and $144 above which there are chances that ETH might test $150 resistance level soon.

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