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- Ethereum gains 7% on the day to surpass XRP and become the 2na largest digital asset.
- ETH / USD breaks from a narrow range to stay above $ 150.
Ethereum performance simply incredible. It is a good way to start the new year with gains in excess of 7% less than 24 hours. The gains are at the same time when the traders are trying to settle into the new year. Ethereum has finally broken above the hurdle at $ 150.
The crypto is trading at $ 152.59 after it opened the day's trading at $ 142.84. Ethereum has also escaped the narrow range with the upper limit at $ 150 and the range support at $ 124.60. The current price is above the Simple Moving Averages (50 SMA and 100 SMA) on the hourly chart; case price reverses the trend.
The bullish break has brought $ 160 into sight and the positive technical indicators show that the price will continue to move into the near term. Looking at the chart, ETH / USD will find a support at $ 140 as well as $ 130 if a reversal occurs. The above mentioned range will support aslo in handy.
ETH / USD 1-hour chart
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