• ETH/USD slipped back below $140.00.
  • The critical support is created by $135.00.

ETH/USD tested area above critical $140.00 handle, but the upside proved to be unsustainable as the price retreated to $139.00 by the time of writing. The second largest coin by market value grew strongly on Wednesday, in line with general market momentum. However, the bullish momentum faded away and put the coin into a consolidation mode.

recovered from the recent low of $131.54 to trade at $137.81 at the time of writing. The second largest coin with the current market value of $14.6B grew by nearly 3% in a matter of hours during Asian session amid global cryptocurrency market recovery.

What’s going on

Blockchain start-up Trustology established by former BNY Mellon, RBS and Barclays employees, launched TrustVault, cryptocurrency storage vault for Ethereum. TrustVault consists of hardware modules placed in protected data centers and iOS app used to manage the funds. 

At this stage, users can only store Ether in the vault, though the company plans to add ERC-20 and BTC support in the nearest future.

Ethereum’s technical picture 

From the short-term point of view, the critical support lies in the area $137.00-$136.70. It is created by a confluence of 4-hour and 1-hour SMA levels. Meanwhile, $135.00 is critical for the coin’s near-term momentum. This handle served as a strong resistance and now might provide a good support in case of the extended downside correction

On the upside, we need to return above $140.00 and retest the recent high at $140.86. The next barrier comes at psychological $141.00

ETHUSD, 4-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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Ethereum Classic price lags behind Bitcoin and XRP despite upcoming rally

Ethereum Classic price action for the Thursday trade session has been the definition of a whipsaw. The daily candlestick open has dropped as much as 9.5% and spiked higher by as much as 10.5% - big swings in all directions.

More Ethereum Classic news

VeChain price nears a 120% bullish breakout

VeChain price has made significant gains during the Thursday trade session, capitalizing on Ethereum’s bullish move to new all-time highs. VeChain itself has traded higher than 10% on the day, outperforming the majority of its peers. VeChain is likely to convert to bull-market conditions ahead of most altcoins.

More VeChain news

Polkadot price sees bullish breakout, but risks fading

Polkadot (DOT) has made another attempt to break out of the bullish triangle. This is the fourth time already in just one month that price has tried to break to the upside, making it primed to likely succeed at the next attempt.

More Polkadot News

Litecoin bears want to take over, but LTC price still eyes $400

Litecoin price attempts to outperform Bitcoin and Ethereum. A rally of over 100% is likely if Litecoin can crack above some key resistance levels ahead. Litecoin is on target to make its own, new all-time highs if conditions are favorable.

More Litecoin News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast