Ethereum Price Analysis: ETH going to $130?

5 months ago

Technical Indicators

Support Level – $120

Resistance Level – $123

  • Ethereum price turned bullish and is strongly supported at around $120.
  • There is a bullish pattern line formed with support around $120 on the hourly chart.
  • ETH can face hurdles in between which can pull the price downwards however it is a good amount of buyers are placed around $120, $119 or $118 which shall stop the price from moving downwards.

Ethereum price is currently in a bullish momentum against the US Dollar as well as bitcoin. ETH is expected to move higher towards $125 and $128 in the short term.

Ethereum Price Analysis

EThereum price faced a downward correction after reaching $125 against the US Dollar. ETH moved below the major supports between $122 and $120. The support between $117-118 proved quite strong and stopped the price from moving further downwards. ETH started an upward trend later as the price moved back above $119 resistance level.

ETHUSD Price Chart

Ethereum price moved above the $121 resistance level and currently it is placed nicely over the 100 hourly SMA. ETH faced selling pressure around $122-123 zone which stopped the price from moving upwards. ETH price is currently well situated above $120 support level and ETH is expected to rise higher breaking the current resistance. The closest resistances are around $123 and $125. There is a bullish pattern line formed with support around $120 on the hourly chart of ETH/USD.

Taking a look at the chart, Ethereum price is trading in a bullish pattern above $117 and $120. If the price starts to fall, a good number of buyers are placed around $117 and $120 which will likely stop the price from moving downwards. If Ethereum price is able to break the resistance around $125,  ETH will most likely move towards $128 resistance level.

View Comments

    Leave a Reply

    Your email address will not be published. Required fields are marked*

    For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

    If you agree to these terms, please click here.

    This website uses cookies. When you are browsing Coinnounce.com, you agree with our cookie policy and terms of use.