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The price of Ether remains in a significant uptrend against the US dollar and bitcoin. The ETH / USD could operate in a range before the next upward move above $ 160.00 and $ 165.00.
Key points
The price of Ether is consolidating above the $ 150.00 support against the US dollar.
A crucial bullish trend line is in place with support for $ 142.00 on the 12-hour chart of Eth / USD.
ETH / BTC started a short-term downward correction below the 0.0400BTC level.
Technically, the 12-hour chart is gaining ground in bullish territory.
Weekly analysis of the price of the ether
Last week, there was a new upward move in the ETH / USD from the $ 135.00 support area. The pair broke resistance levels $ 150.00 and $ 155.00, eliminated the barrier of $ 160.00 and traded for a new annual high of $ 163.57.
ETH / BTC went higher and broke resistance levels of 0.0380BTC and 0.0400BTC. The pair even zeroed the 0.0410BTC level and subsequently began a downward correction under the support of 0.0400BTC. Key support is at 0.0385BTC, followed by 0.0365BTC.
Starting with the 12-hour chart of Eth / USD, the pair trades with a strong bullish rise above the spin level of $ 120.00. The pair recently broke the resistance of $ 140.00 and placed above $ 150.00. A maximum was formed at $ 163.57, and later the price started a short-term correction.
He tested the support of $ 155.00 and is currently operating in a narrow range. On the downside, there is significant support near $ 145.00 and a bullish trendline with support for $ 142.00.
If Ether's trading were to exceed the $ 142.00 support, the price could test the next key support at $ 135.00. However, the main support is close to the pivot area of $ 120.00 and the Fibonacci retracement level of 50% from the minimum of $ 82.12 to $ 163.57 maximum.
For the top, the $ 160.00-165.00 area is a solid resistance, beyond which the price can accelerate towards the $ 170.00 and $ 175.00 levels. The main resistance is $ 180.00, followed by $ 184.00.
The 2-hour chart of Eth / USD indicates that the price of Ether is preparing for the next break, with support for $ 148.00 and resistance close to $ 157.00. The current price action is positive and there is a high probability of a bullish break above $ 160.00 in the next sessions.
Weekly resistance levels
$ 163.00 and $ 170.00
Weekly support levels
$ 150.00 and $ 142.00
12 hours of CSR
The RSI is positioned well above level 60.
MACD at 12 hours
The MACD is gaining momentum 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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