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Ethereum Price Analysis: ETH to $160 or $130 today?

Ethereum price is likely preparing for the next bullish move against the US Dollar and bitcoin. ETH/USD could struggle between $140 and $150.

Technical Indicators

Support Level – $142

Resistance Level – $150

  • Ethereum price is trading over the $140 and $142 support levels against the US Dollar.
  • The price is confronting a solid resistance close to $150.
  • There is a bullish pattern line formed with support at $143 on the hourly chart of ETH/USD.
  • The pair must remain over the $140 support to clear the $150 resistance in the short term.

Ethereum price is likely preparing for the next bullish move against the US Dollar and bitcoin. ETH/USD could struggle between $140 and $150 for a short period, however, it there is a good probability of it breaking the $150 resistance zone soon.

 

Ethereum Price Analysis

Ethereum price started trading higher towards the $148 and $150 resistances against the US Dollar. ETH/USD pair was not able to break the $148 resistance a couple of times. This resulted in Ethereum price dropping beneath $144 level. The price traded near $142 support, where buying pressure increased. The price later rectified higher above $144.

Right now, the $145-146 zone is acting as a weak resistance. A new close over the $148 level is required for buyers to pick up strength. All the more imperatively, buyers need to effectively break $150 to begin another upward wave. The next major resistance is around $155.

Good support for Ethereum price is formed around $144. There is a bullish pattern line formed with support at $143 on the hourly chart of ETH/USD. The primary supports are around $142 and $140 levels. A drawback break underneath the $140 support could open the entryways for a sharp decrease in the coming time. It is quite essential for the buyers to maintain the $140 support for Ethereum price to rise further and break $150.

ETHUSD Price Chart
ETHUSD Price Chart

Taking a look at the chart, ETH price is currently trading over the 142 support level. There are a couple of bearish patterns forming on the chart which are predicting a pullback beneath $140.

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Written by 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.

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