Ethereum (ETH) Signaling Upside Continuation, $165 Possible?

THELOGICALINDIAN - Ethereum amount is accepting bullish drive aloft 150 against the US Dollar while bitcoin rallied aloft 7500 ETH amount is acceptable to aim 165 if it settles aloft 155

Ethereum Price Analysis

Recently, there was a nice accretion in Ethereum aloft the $140 and $142 attrition levels adjoin the US Dollar. Later, ETH amount circumscribed aloft the $142 abutment breadth and beneath the 100 alternate simple affective average.

Finally, the beasts acquired backbone and were able to advance the amount aloft the $150 attrition breadth and the 100 alternate simple affective average. Besides, yesterday’s key bearish trend band with attrition abreast $150 was breached on the alternate blueprint of ETH/USD.

It opened the doors for added gains aloft the $152 resistance. Ethereum activated the $155-$156 attrition breadth and it is currently accumulation gains. An antecedent abutment is abreast the $152 level.

Furthermore, the 23.6% Fib retracement akin of the contempo acceleration from the $142 beat low to $156 aerial is additionally abreast the $152 level. More importantly, there is a abbreviate appellation bullish banderole basic with attrition abreast $155 on the aforementioned chart.

If there is an upside breach aloft $155 and the amount climbs aloft the $156 high, there could be added gains. In the mentioned case, the amount may conceivably beat the $160 attrition and abide higher.

The abutting key attrition of the ambition for the accepted accretion could be $165. Conversely, the amount ability abort to abide aloft the $155 and $156 attrition levels.

On the downside, the amount may revisit the $148 area if it break the $152 support. The 50% Fib retracement akin of the contempo acceleration from the $142 beat low to $156 aerial is additionally abreast the $148 level. If there are added downsides beneath $148 and the 100 alternate SMA, the amount will best acceptable retest the $142 support.

Looking at the chart, Ethereum amount is assuming absolute signs aloft the $152 and $148 abutment levels. The accepted amount activity suggests aerial affairs of added assets aloft $155 and $158.