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Ethereum Price Analysis: ETH ready for more gains?

Ethereum price is placed pleasantly in a positive zone. ETH/USD will probably break the $150 resistance and it could even outperform the $155 level.

Technical Indicators

Support Level – $143

Resistance Level – $150

  • Ethereum price has good support over the $138 and $140 levels against the US Dollar.
  • The price started an upward move however it was unable to break the $148 and $149 resistance levels.
  • There is another bullish pattern line forming with support at $143 on the hourly chart of ETH/USD.
  • Ethereum price is probably going to break the $150 resistance level in the short term.

Ethereum price is placed pleasantly in a positive zone against the US Dollar and bitcoin. ETH/USD will probably break the $150 resistance and it could even outperform the $155 level.

Ethereum Price Analysis

Ethereum price fell down from the $149 and $150 resistances yesterday. ETH/USD declined underneath the $144 support level, however, the $138 and $140 levels proved strong enough to push the price upwards. ETH recovered back and traded over $147. The selling pressure was quite high close to the $149 and $150 resistance levels. The price could not break over the $149 and $150 levels.

There are numerous supports for ETH close to the $143 and $144 levels. There is another bullish pattern line formed with support at $143 on the hourly chart of ETH/USD. The $143 support is probably going to go about as solid support.

Underneath $143, the following major support is close to the $140 zone, trailed by $138. The 100 hourly SMA is additionally near the $138 level to go about as support. Until the price is over $138, it stays supported for more gains. Be that as it may, buyers need to break the $150 resistance level for further gains.

ETHUSD Price Chart
ETHUSD Price Chart

Taking a look at the chart, ETH price is testing the $150 resistance level. If the buyers are able to move the price above $150, the price could even break the $155 level in the short term. The next target could be $165.

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Written by Joyce Lang

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