Ethereum Market Overview: ETH/USD averts triangle breakdown, shift focus to $150
- Ethereum finds support at $144.23, allowing for the ongoing shallow recovery.
- The full stochastic oscillator suggests that the next course of action is sideways.
Ethereum is displaying a dash of green and a glimpse of bullish pressure mid-through the week’s trading. After opening the session at $145.82, Ether corrected to highs around $146.48. It has a market value of $146.30 amid expanding volatility.
The recent break below the symmetrical triangle support pushed the bearish leg towards $144.34 (previous low). The bulls' reaction has seen the dire impact of the triangle breakdown averted. Besides, ETH's ongoing price action is aiming for the hurdle at $150.
Meanwhile, the full stochastic oscillator is moving north towards 50 after refreshing lower levels at 8.69. If it sustains the trend towards 70, Ethereum price could reclaim support above $150 and then trend towards $170. However, the MACD shows that movement north will not come easy and the most probable correction will be sideways.
ETH/USD 2-hour chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
