Ethereum price update: ETH/USD reclaims $140 support – Trends of March 29, 2019
|- Ethereum extends gains above $142 for the first time since March 18.
- ETH/USD current gradual breakdown risks sliding below the critical $140 level.
ETH/USD came out of the stubborn range between $137 and $139 on Friday morning. The second largest crypto extended the gains above $140 in a bullish engulfing candlestick. The candlestick zoomed above $142 but fell short of $143.
Currently, there is a gradual breakdown risk sliding below the critical $140 level. In spite of the correction, Ethereum’s technical levels remain very positive with the RSI back in overbought zone for the first time since March 27. The MACD 1-hour confirms the uptrend at +.75590.
ETH/USD bulls have a task to ensure the asset stays above $140 otherwise Ethereum could trend lower and return to the stubborn range. The various support levels to look out are the 50 SMA at $139, the 61.8% Fib level and the 100 SMA currently at $137.00.
ETH/USD 1-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.