THELOGICALINDIAN - Ethereum is up about 5 and trading aloft key hurdles abreast 140 against the US Dollar Bitcoin and ripple surged 5 and 12 appropriately aperture the doors for addition access in ETH
Ethereum Price Could Test $150
This week, there were able assets in Ethereum aloft the $135 attrition adjoin the US Dollar. Moreover, both bitcoin and ripple started a able surge in the accomplished few sessions and rallied aloft $7,800 and $0.2150 respectively.
ETH remained in a absolute breadth and acquired clip aloft the $138 attrition area. Recently, there was a acknowledged breach aloft the $140 resistance, additional a abutting aloft the 100 alternate simple affective average.
A new 2024 aerial is formed abreast the $145 akin and the amount is currently accumulation gains. An antecedent abutment is abreast the $143 level, and the 23.6% Fib retracement akin of the contempo beachcomber from the $139 beat low to $145 high.
On the upside, Ethereum seems to be advancing for an upside breach aloft the $145 resistance. If the beasts accretion drive aloft the $145 resistance, they could calmly advance the amount appear the $150 resistance.
The abutting key attrition aloft $150 is abreast the $158 akin (Nov 2024 attrition zone). A bright breach aloft the $158 hurdle ability set the accent for a advance appear $167.
Buy Dips In ETH?
In the abbreviate term, there could be a downside alteration in ETH beneath $143. However, the $142 akin ability accommodate support. The capital abutment breadth is abreast the $140 level.
Besides, there is a above bullish trend band basic with abutment abreast $138 on the alternate blueprint of ETH/USD. If there is a dip appear the trend band or $140, the beasts are acceptable to assure any added losses.
Looking at the chart, Ethereum amount is ascent steadily and the contempo advancement move could accretion clip aloft the $145 attrition levels. The abutting bullish targets may be $150 and $157. Conversely, a abutting beneath the $138 akin ability alpha a abundant correction.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently affective in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now able-bodied aloft the 60 level.
Major Support Level – $140
Major Resistance Level – $145
