• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
Ethereum Price Technical Analysis ETH USD
Sensei Inu Logo

Ethereum Price Analysis: ETH Hesitates But Break Above $150 Seem Likely

Aayush Jindal by Aayush Jindal
5 years ago
in Technical analysis
Reading Time: 2 mins read
  • ETH price is currently trading in a broad range above the $140 and $142 supports against the US Dollar.
  • The price seems to be facing a strong resistance near the $148 and $150 levels.
  • There is a key bullish trend line formed with support at $143 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must stay above the $140 support to clear the $150 barrier in the near term.

Ethereum price is likely preparing for the next break against the US Dollar and bitcoin. ETH/USD could struggle in the short term, but it will most likely break the $150 resistance area.

Ethereum Price Analysis

Recently, ETH price traded higher towards the $148 and $149 resistances against the US Dollar. However, the ETH/USD pair failed to surpass the $148 resistance on more than two occasions. As a result, there was a fresh drop and the price traded below the $144 level. The price traded close to the $142 support, where buyers emerged. A swing low was formed and later the price corrected higher. It recently moved above $144 and tested the 50% Fib retracement level of the last slide from the $149 swing high to $142 swing low.

At the moment, the $145-146 zone is acting as a short term resistance. An immediate resistance is the 61.8% Fib retracement level of the last slide from the $149 swing high to $142 swing low. A fresh close above the $148 level is needed for buyers to gain strength. More importantly, buyers need to successfully break $150 to start a new upward wave. The next key resistance is near $154 and the 1.618 Fib extension level of the last slide from the $149 swing high to $142 swing low.

On the downside, an initial support is near $144. Besides, there is a key bullish trend line formed with support at $143 on the hourly chart of ETH/USD. The main supports are near the $142 and $140 levels. A downside break below the $140 support could open the doors for a sharp decline in the coming sessions. Therefore, it’s very important for the price to stay above $140 in order to challenge and break $150.

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH price seems to be trading in a range above the $140 and $142 support. Having said that, there are a few bearish patterns emerging on the charts, suggesting a pullback below $140.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone, with positive signs.

Hourly RSI – The RSI for ETH/USD is rising sharply and it is placed well above the 50 level.

Major Support Level – $142

Major Resistance Level – $148

Tags: ETHethereum
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

chainlink

Chainlink (LINK) Spikes 6% On The Weekly Chart As Market Sees Correction

7 hours ago
Tron TRX

Tron Price Prediction: TRX Could Rally To $0.095 and Outperform Bitcoin

15 hours ago
Ethereum

Ethereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day?

16 hours ago
Bitcoin

Bitcoin Price Grinds Lower And Seems Like Bears Are Not Done Yet

17 hours ago
XRP

XRP Forecast: Is A Retreat Below $0.5 Likely Before October?

2 days ago
81 Fresh Binance Wallets Withdraw $31.58 Million LINK

81 Binance Wallets Withdraw $31 Million In LINK, What This Mean For The Altcoin

3 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Everlodge (ELDG)’s Electrifying Presale: Stealing the...

    2 hours ago
  • Litecoin (LTC) and Chainlink (LINK) Holders Dive into...

    2 hours ago
  • Discover the Yesgo (YESGO) Listing on XT.COM and Launch on...

    3 hours ago
  • Ex-SEC Chief Optimistic About Bitcoin ETF Approval...

    7 hours ago
  • Bitcoin (BTC) Stays at $27K; Bullish Hints from Aave (AAVE)...

    8 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.