- The ETH price rose higher recently and broke resistance levels $ 130 and $ 140 against the US dollar.
- There is a crucial bullish trend line in place with support for $ 138 on the ETH / USD time chart (data feed via Kraken).
- The pair is currently trading close to $ 148 and could reach $ 150 in the near term.
The price of Ethereum has gained much bullish momentum against the US dollar and bitcoin. The ETH / USD broke $ 145 and could now exceed $ 150 and $ 155.
Price analysis of Ethereum
In the weekly analysis, we discussed the chances that the ETH price would hit $ 140 against the US dollar. The ETH / USD pair broke resistance levels $ 125 and $ 130. It even broke the $ 140 barrier and positioned well above the 100-hour simple moving average. The recently traded price close to the $ 150 level is consolidating gains.
An initial support is close to $ 144 and the Fib retracement level is 23.6% of the recent wave from $ 125 low to $ 149 high. However, the main support is close to the $ 135-136 zone. In addition, there is a crucial upward trend line with support for $ 138 on the hourly chart of Eth / USD. The trend line approaches the 50% Fibra retracement level of the recent wave, from $ 125 low to $ 149 high. Therefore, if there is a downward correction, the price is likely to be close to $ 144, $ 140 or $ 135. On the upside, an initial resistance is close to the $ 150 level, beyond which the price could exceed $ 155.
Looking at the chart, the ETH price gained over 15% and broke the key resistance $ 140. This indicates that buyers have full control and that there could be more gains over $ 150.
MACD time – The MACD is positioned well in the bullish zone.
RSI timetable – The RSI is currently placed in the overbought zone without a bearish corner.
Main support level: $ 135
Main resistance level: $ 150