Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Key Highlights
- Its monstrous gains in ETH price, as it extended upside above $140 against the US Dollar, and may soon trade towards $160.
- There is a solid ascending channel pattern with support at $143 formed on the hourly chart (ETH/USD, data feed via SimpleFX).
- The price may dip a few points towards $144-145 before spiking above $150-152 in the near term.
Ethereum price is putting the best show against the US Dollar and Bitcoin, and ETH/USD may now soon head higher above $150 towards $160 or even $175.
Ethereum Price Bullish Trend
Yesterday, I mentioned that if ETH buyers remain in action, it can soon move above $130 to test $135-138 against the US Dollar. It did move higher, and not only broke $138, but also managed to surge above $145. The current trend is super bullish and pointing further gains above $150. The price may soon break and settle above $150 for a sustained upside move towards $160.
At the moment, the price is trading just below $150, and may soon break it. There is a solid ascending channel pattern with support at $143 formed on the hourly chart of ETH/USD. If the pair dips a few points from the current levels, it may find support near $144-145. The 23.6% Fib retracement level of the last wave from the $120.99 low to $149.18 high is at $142.52. So, the channel support at $143 may play a major role.
There is a high possibility of a reaction near $150. So, we may see a dip of around $8-10 going forward. However, the larger trend remains bullish with chances of nasty spikes towards $160 or even $175. Below $142, the $135 support may come into the picture.
Hourly MACD – The MACD is placed with a lot of momentum in the bullish zone.
Hourly RSI – The RSI is floating in the overbought levels.
Major Support Level – $142.00
Major Resistance Level – $150.00
Charts courtesy – SimpleFX