THELOGICALINDIAN - Ethereum defied force and trading with a bullish bent aloft 135 adjoin the US Dollar agnate to bitcoin ETH amount is acceptable to abide college aloft the 150 level
Ethereum Price Could Break $150
This accomplished week, there were bullish moves in Ethereum aloft $132 adjoin the US Dollar. ETH rallied appear the $135 level, after adapted lower, and now assuredly trading college with a absolute bent aloft the $135 level.
A new annual aerial was formed abreast $148 and the amount started a downside correction. There was a breach beneath the 23.6% Fib retracement akin of the advancement move from the $135 low to $148 high.
However, the abatement was adequate by the $140 breadth and the amount is now able-bodied aloft the 100 simple affective boilerplate (4-hours). Moreover, the 50% Fib retracement akin of the advancement move from the $135 low to $148 aerial is acting as a able support.
More importantly, there is a key bullish trend band basic with abutment abreast $140 on the 4-hours chart of ETH/USD. If there is a downside breach beneath the trend band beneath $138, there is a accident of a able decline.
On the upside, there are key hurdles abreast the $145 and $148 levels. A bright breach aloft the $148 akin could set the clip for a bullish breach aloft the $150 akin in the advancing sessions.
What’s Bearish Case for Ethereum?
The capital abutment on the downside is abreast the $137 akin and the 100 SMA. If there is a downside breach beneath the $137 and $135 levels, there is a accident of a bright bearish break.
Therefore, a acknowledged breach and abutting beneath the $135 akin ability set the clip for a beginning decline. The abutting key abutment is abreast $130, beneath which it may conceivably accessible the doors for a advance appear the $125 level.
The aloft blueprint indicates that Ethereum amount is assuming a lot of absolute signs aloft $135 and it acceptable to billow aloft the $150 level.
Technical Indicators
4 hours MACD – The MACD for ETH/USD is accepting backbone in the bullish zone.
4 hours RSI – The RSI for ETH/USD is currently able-bodied aloft the 50 level.
Major Support Level – $135
Major Resistance Level – $148
