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Ethereum Price Analysis: Will ETH break $150 resistance?

Ethereum price started a bull rally breaking many resistances in between. The current resistance lies at $140 and $145 and ETH will try to break these.

Technical Indicators:

Support Level: $137

Resistance Level: $140

Key Points:

  • As discussed yesterday, Ethereum price spiked upwards breaking the $134 resistance level.
  • ETH was able to break and settle above the $136 resistance.
  • Ethereum is trading close to the $140 resistance level and will likely try to break it in the near term.

 

Ethereum Price Analysis

Summary: Ethereum price started a bull rally breaking many resistances in between. The current resistance lies at $140 and $145 and ETH will most likely try to break these in the short term.

As discussed yesterday, the Ethereum price started to rise upwards by breaking the $134 resistance level. The momentum soon turned bullish as ETH spiked towards to $140 level. New support was formed at $133. The price was able to move and stay above the 100 hourly SMA and $134 level after which Ethereum gained momentum and started to test and break the next resistance.

ETH price was able to break through the $138 resistance level and is currently testing the $140 level. The resistance around $140 is quite strong and the price even corrected downwards after testing this level. However, on the downside, Ethereum is well supported and will most likely test the $140 resistance soon in order to move upwards towards $145 and $150 range.

ETHUSD Price Chart
ETHUSD Price Chart

The current support lies at $137 and if Ethereum price corrects downwards and breaks this support, the next support lies at $134 which was the previous resistance. If Ethereum is able to break the current resistance, it might soon test $145 and $150 resistance levels. The current momentum is quite bullish and a bull rally is being predicted in the near term.

The chart shows that ETH is currently trading in a bullish momentum above the $137 support level. It might face dips in between trying to move upwards, however, the overall forecast is bullish and Ethereum price might soon move above $140 range.

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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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