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Weekly analysis of the price of Ethereum: ETH is faced with a strong resistance close to $ 140



Key points

  • The ETH price started an important upward move after reaching a low of $ 112.80 compared to the US dollar.
  • There was a break above an important bearish trend line with resistance to $ 122 on the 4-hour chart of Eth / USD (data feed via Kraken).
  • The pair is now positioned in a positive zone, but is struggling to clear the resistance area of ​​$ 142.

The price of Ethereum has returned higher than the US dollar and Bitcoin. The ETH / USD must overcome the resistance of $ 142 to continue rising in the short term.

Price analysis of Ethereum

Last week, the ETH price fell below the $ 130 and $ 120 support levels against the US dollar. The ETH / USD pair traded at a low of $ 112.80 and subsequently provided solid support. It seems that the $ 112 area and the simple moving average at 100 (4 hours) provided support. Subsequently, the price started a strong upward move and exceeded the resistance levels $ 125 and $ 134.

There was a break above the Fibra 50% retracement level of the recent decline from the low of $ 152 fluctuating to $ 112 fluctuating low. Furthermore, there was a break above an important bearish trend line with resistance to $ 122 on the 4-hour chart of Eth / USD. The pair also eliminated the $ 138 resistance, but struggled to cancel the $ 142 resistance. In addition, the Fib retracement level 76.4% of the recent decline from the low of $ 152 fluctuating to $ 112 low fluctuating also acted as a resistance. The price is currently trading in a range close to the $ 130 level and could soon make the next move.

ETH chart of weekly analysis of the price of Ethereum

The chart above indicates that the ETH price may lower some points towards the $ 128 or $ 122 level before the next upward move. A break above the $ 142 and $ 144 resistance can clarify the path for further gains. The next resistance is at $ 152 followed by $ 155.

4-hour MACD: the MACD is slightly positioned in the bullish zone.

4-hour RSI – The RSI is located just above level 50.

Main support level: $ 128

Main resistance level: $ 142


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