Prediction of Ethereum prices: the ether could accelerate higher

30 December 2018 15:53

Key points

The price of Ether has stabilized above the resistance of $ 130.00 with a positive angle compared to the US dollar.

A crucial bearish trendline is formed with resistance to $ 142.00 on the 2-hour chart of Eth / USD.

ETH / BTC is positioned well for more earnings above the 0.0360BTC level.

Technically, the 12-hour chart is moving higher in bullish territory.

Weekly analysis of the price of the ether

Last week, we witnessed a consolidation of ETH / USD losses above the $ 120.00 support. Later, buyers took control and pushed the pair above $ 120.00, $ 125.00 and $ 135.00 resistance levels to resume its uptrend.

ETH / BTC also gained bullish momentum and broke resistance levels 0.0340BTC and 0.0350BTC. The pair is currently trading at a positive angle and may continue to move higher towards 0.0380BTC and 0.0400BTC.

Let's start with the 12-hour ETH / USD chart. The pair started a major downward correction from $ 161.35 upwards. The price has moved below the support of $ 140.00 and the Fibonacci retracement level of 23.6% of the last major move from the minimum of $ 82.12 to a maximum of $ 161.35.

However, the decline was protected by the $ 115.00-120.00 support and the Fibonacci 50% retracement level of the last major move. It's also a significant uptrend line, with support for $ 125.00 on the same chart.

Turning to the 2-hour chart of Eth / USD, the pair jumped sharply above the resistance level of $ 135.00. In the beginning, Ether is currently struggling to gain momentum above the resistance of $ 142.00 and a crucial bearish trendline at $ 142.00.

A positive closing above the $ 145.00 resistance and the trend line is needed for upward acceleration towards the $ 150.00 and $ 155.00 levels. More over $ 155.00, the price is likely to break the $ 161.35 peak in the short term.

On the flip side, Ether is likely to find support near the $ 130.00 level. The main support is close to $ 125.00 and $ 120.00, below which the ETH / USD could move into a bearish 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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