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

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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 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.

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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