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The price of Ether remains higher than the US dollar and bitcoin. The ETH / USD could continue to move higher if buyers managed to cancel the resistance of $ 160.00.
Key points
The price of Ether has been traded higher recently and has stood above $ 150.00 compared to the US dollar.
The ETH / USD is approaching the next break above $ 160.00 or below $ 150.00 on the 2-hour chart.
ETH / BTC is climbing higher and may soon break the resistances 0.0400BTC and 0.0405BTC.
Technically, the 2-hour chart is gaining momentum in bullish territory.
Price analysis of the ether
After forming a support base near the $ 148.00 level, ETH / USD started a new upward move. It broke resistance levels $ 150.00 and $ 155.00, but buyers again failed to cancel the resistance $ 160.00.
ETH / BTC exchanges with a positive tone above the 0.0380BTC support. The pair may soon settle above the resistance of 0.0400 BT; subsequently, it could test the resistance 0.0420BTC.
Starting with the 2-hour chart of Eth / USD, the pair corrected lower from the top $ 159.96 and fell below the $ 155.00 and $ 152.00 support levels. He broke the Fibonacci retracement level by 23.6 percent of the upward move from the low of $ 131.50 to $ 159.96.
The price even traded below the $ 150.00 level, but buyers appeared near the $ 148.00 support and protected further drops. Low was formed at $ 147.14 and the price successfully recovered over $ 155.00.
It seems that Ether is approaching the next key break above $ 160.00 or below $ 150.00 support. Under the support of $ 150.00 and a bullish trend line, the price can revisit support levels of $ 142.00 and $ 140.00.
On the flip side, a break above $ 159.00 and $ 160.00 resistance levels could set the pace for further gains over the $ 165.00 resistance. The next major resistance above $ 165.00 is close to the $ 172.00 level.
The 30-minute ETH / USD chart suggests that the pair is trading near the $ 152.00 support, below which the price may fall to support $ 148.00.
Overall, Ether is trading a bullish trend and may soon clear the $ 160.00 barrier to further rise to $ 165.00 and $ 172.00. Otherwise, ETH / USD will most likely repeat the support of $ 142.00.
Important resistance levels
$ 158.00 and $ 160.00
Important support levels
$ 150.00 and $ 142.00
2 hours RSI
The RSI is moving higher towards level 65.
MACD at 2 hours
The MACD is gaining ground in the bullish zone.
Aayush spent over seven years as a contributor and observer of the financial markets. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.
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