Support Level – $130
Resistance Level – $140
- Ethereum price picked up strength over the $125 and $130 resistance levels against the US Dollar.
- There was an appropriate close over the $130 resistance level and the 100 hourly SMA.
- There is a bullish pattern line formed with support around $129 on the hourly chart of ETH/USD.
- Ethereum price is probably going to proceed higher towards $140 and $145.
Ethereum price is picking up strength after breaking the major resistance against the US Dollar and bitcoin. ETH is trading above $130 support level and it could soon move towards $145 in the short term.
Ethereum Price Analysis
Ethereum price picked up strength and broke numerous resistances between $125 and $130. There was a legitimate close over the $130 resistance level and the 100 hourly SMA. There was a little bearish response from the $130 resistance, yet the $124 level went about as strong support. The price revived and broke the $130 and $132 resistances.
Ethereum price tested the $135 resistance, and later there was a minor drawback adjustment. ETH plunged underneath the $133 level, yet the $132 level went about as good support. There appears to be a lot of supports shaping around $130. There is a key bullish pattern line formed with support at $129 on the hourly chart of ETH/USD.
Taking a look at the chart, Ethereum price is picking up strength over the $132 resistance levels. It will in all probability break the $135 level and expand gains in the coming sessions towards $140 and $145 levels. The major support is around $130, beneath which the price may test the $125 support zone.