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The price of Ether grew higher than the US dollar and bitcoin. ETH / USD broke the resistance by $ 150.00 and could continue to rise towards $ 160.00 or $ 165.00 levels.
Key points
The price of Ether has gained bullish momentum and has broken resistance from $ 145.00 and $ 150.00 against the US dollar.
The ETH / USD broke a crucial declining channel with a resistance at $ 141.00 on the 2-hour chart.
ETH / BTC reorganized recently and broke the 0.0375BTC and 0.0380BTC resistors.
Technically, the 6-hour chart is gaining momentum in bullish territory.
Price analysis of the ether
Yesterday we saw the next breakout model in ETH / USD above the resistance levels of $ 142.00 and $ 145.00. The pair broke the resistance of $ 145.00 and recovered over the $ 150.00 obstacle.
ETH / BTC also started a solid upward movement above the 0.0360BTC resistance. The pair has even broken resistance levels 0.0375BTC and 0.0380BTC and it seems there could be more gains towards the 0.0400BTC and 0.0410BTC levels.
Starting with the 6-hour chart of Eth / USD, the pair corrected further down by $ 161.35. It traded below support levels $ 140.00 and $ 130.00 before buyers appeared close to $ 115.00-120.00. Later, the pair formed a support base near $ 120.00 and traded above the resistance levels $ 130.00 and $ 135.00.
Ether started a solid upward move, broke resistance levels $ 145.00 and $ 150.00, and is currently following an important uptrend line, with support for $ 130.00 on the same chart.
At the beginning, the price is trading close to the resistance zone of $ 155.00-160.00. If Ether breaks the resistance of $ 160.00, the price could rise towards resistance levels $ 165.00 and $ 170.00.
Turning to the 2-hour chart of Eth / USD, the pair formed a strong bullish pattern and broke a decisive decline channel with a resistance to $ 141.00 to open the door to an upward acceleration . The price has recently risen above the $ 155.00 level and it seems that sellers are close to $ 156.00 and $ 157.00.
Overall, the recent bullish wave is signaling a strong increase in buying sentiment above the $ 145.00 support. On the downside, initial support is $ 150.00, followed by $ 145.00.
Important resistance levels
$ 160.00 and $ 165.00
Important support levels
$ 150.00 and $ 145.00
6 hours RSI
The RSI broke level 50 with a positive angle.
MACD at 6 hours
The MACD is positioned well 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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