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ETH to USD: Ethereum Price Analysis, Can ETH rise?

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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: $155

Resistance Level: $180

Key Points:

  • Ethereum price started to rise again breaking through $160 resistance level.
  • After rising up to $180, ETH started a downward correction.
  • A bullish pattern is being formed on the hourly chart with support around $153.
  • Ethereum price will remain bullish if it breaks through $180 resistance level.

 

Ethereum Price Analysis:

Summary: Ethereum price is currently trading in bullish momentum. ETH might break through $180 resistance level towards $200 if buyers remain in action.

ETH price momentum became quite bullish this week after breaking through $140 resistance level. Ethereum price settled well above $155 resistance level and the 100 hourly SMA. The upward move was quite strong and even broke through $170 resistance level. Ethereum went up to $182 to test the resistance between $180 and $185 before correcting downwards. However, the support around $155 stopped further losses.

Ethereum soon recovered upwards and moved over $165 resistance level. However, currently, ETH is facing a lot of selling pressure around $170 which could push the price back downwards. It Ethereum moves below $155 support level, it could turn bearish and fall towards $140 range, however, if the buyers remain in action and move the price above $180, it could result in ETH testing $200 range. There is a bullish pattern formed on the hourly chart with support around $153. Also, a breakout triangle is placed with resistance around $170.

ETHUSD Price Chart 7 April
ETH/USD Price Chart 7 April

The chart shows that Ethereum is currently bullish and well placed over $150 support level. However, if the price falls below $155, it could become bearish and fall back to $140 range.

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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