[ad_1]
- The price of ETHs is strengthened above the resistance levels of 125 and 130 USD against the US dollar.
- There was a good close above the $ 130 resistance level and the single moving average every hour.
- A key uptrend curve is in place with 128 USD support on the ETH / USD time chart (data feed via Kraken).
- The price should continue to rise and the next goals for buyers could be $ 140 and $ 145.
The price of Ethereum is gaining strength compared to key levels against the US dollar and Bitcoin. ETH / USD is well above $ 130 and could accelerate to $ 145 in the near term.
Ethereum Price Analysis
In recent sessions, ETH's price against the dollar (USD 120) has risen sharply. The ETH / USD pair gained strength and broke many major resistances such as $ 125 and $ 130. There was a good close above the $ 130 resistance level and the single moving average every hour. Recently, resistance at $ 130 caused a small downward reaction, but the $ 124 level was a strong support. The price rebounded and broke the resistance of 130 and 132 dollars. A new monthly high was formed near $ 135, with bullish movements.
After testing the resistance at $ 135, there was a slight downward correction. ETH fell below the $ 133 level, but the $ 132 level served as a support. In addition, the Fib retracement level of 23.6% of the recent wave, from a low of $ 123 to a high of $ 135, served as a support. On the other hand, there seems to be a lot of media forming around the $ 130 and $ 129 levels. In addition, the 50% Fib retracement level of the recent wave from the lowest level of $ 123 to $ 135 is also close to the $ 129 level.
More importantly, there is a key uptrend line with support at $ 128 on the ETH / USD time chart. Therefore, if the pair corrects downward in the short term, there could be a strong buying interest close to the levels of $ 129 and $ 130.
Looking at the chart, the ETH price is gaining ground above the $ 132 resistance levels. He will likely break the $ 135 level and extend the gains in future sessions. The next target for buyers could be $ 140, followed by the $ 145 pivot level. In contrast, the main support is close to 130 USD, below which the price may possibly test the support area at 125 USD.
ETH Technical Indicators
Hourly MACD – The MACD for ETH / USD is strongly positioned in the bullish zone, with a positive bias.
RSI hourly – The RSI for ETH / USD is currently close to overbought levels, with no major correction signal.
Major support level – $ 132, followed by $ 130
Major resistance level – $ 135 and $ 140
Source link
