Ethereum Rallies 10% and Primed To Continue Higher Towards $150 Aayush Jindal AMFEIXRelated NewsBitcoin Near Key Fib E

Ethereum is up around 10% and it traded above the key $130 resistance against the US Dollar. ETH price is likely to continue higher towards the $150 resistance if it clears $140.

  • Ethereum is showing a few positive signs above the $135 level against the US Dollar.
  • The price is now approaching the key $140 resistance area.
  • There was a break above a major bearish trend line with resistance near $126 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin price is up close to 12% and it is now trading above the $6,500 resistance area.

Ethereum Price Is Gaining Momentum

After testing the $120 support, Ethereum started a fresh increase against the US Dollar. ETH price remained well bid above the $120 level, resulting in an upside break above $122 and $125.

The bulls were able to lead the price above the key $130 resistance and the 100 hourly simple moving average. Moreover, there was a break above a major bearish trend line with resistance near $126 on the hourly chart of ETH/USD.

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Ethereum Price

The pair is now trading nicely above the $135 resistance, but it is facing another major resistance near the $138 and $140 levels. The recent swing high was formed near $138 before the price declined below the 23.6% Fib retracement level of the upward move from the $119 swing low to $138 high.

However, Ethereum remained well bid above the $128 level. The 50% Fib retracement level of the upward move from the $119 swing low to $138 high is also acting as a strong support.

On the upside, the bulls need to gain pace above the $138 and $140 resistance levels. If they succeed, there are high chances of more gains towards the $150 resistance in the near term.

Upsides Capped

On the downside, Ethereum is likely to remain well bid near the $128 level. The 100 hourly simple moving average is also positioned near the $128 level to provide support.

If there is a downside break below the 100 hourly SMA, it could change the current bias. In the stated case, the next major support is visible near the $120 level. Any further losses may perhaps spark an extended decline towards the $105 and $100 support levels in the near term.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is currently correcting lower from the 65 level.

Major Support Level – $128

Major Resistance Level – $140

本文来源于互联网:Ethereum Rallies 10% and Primed To Continue Higher Towards $150 Aayush Jindal AMFEIXRelated NewsBitcoin Near Key Fib Extension Resistance, Can Bulls Spark A New...Ripple (XRP) Breaking This Single Level Will Spark a Sharp RallyEthereum Taps Key Resistance During Overnight Surge; Will it Break...eToroSimpleFXPlus500CoinmamaPrimeBitLegacyFXBitStarzCryptoGamesmBitBonusfinder DEBspinWolf Bet1xBitRemote Vision: BlockDown 2020 Delivers Star Names for Online...Remitano Becomes the First Crypto Exchange to Offer Refund on Slow...Universal Protocol Alliance to Listing Mega Utility TokenBittrex Global Announces Listing of Vanywhere (VANY)Thesaurum Integrates Blockchain Gaming To Reward Its Users With Gold

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