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Ethereum Price Analysis: 142.00 seems to be a big hurdle for ETH/USD

  • ETH/USD trades just over 1% lower on Friday as mixed sentiment grips the crypto market.
  • The price has broken out of the chart pattern and looks to be heading to higher levels.
Ethereum Price Analysis: 142.00 seems to be a big hurdle for ETH/USD
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ETH/USD 1-hour chart

Ethereum has been in a sideways pattern since 13th March 2020. This is the phase after the fall from 290.00 to 90.00 which saw the pair lose $200.00 per coin. Since then the price has been making higher lows but failed to break the high of 154.00 marked by the red line on the chart. First, the price needs to take out the green resistance line of 141.82.

Looking slightly closer at the chart now, the price is trading above the 200 and 55 moving averages. The MACD indicator has just turned positive as the histogram has turned from red to green. The wave high break of 142.50 would be a big coup for the bulls especially if the breaks happens with high volume. 

Ethereum Triangle Pattern

Additional levels

ETH/USD

Overview
Today last price137.45
Today Daily Change-1.34
Today Daily Change %-0.97
Today daily open138.79
 
Trends
Daily SMA20147.46
Daily SMA50205.89
Daily SMA100179.04
Daily SMA200176.4
 
Levels
Previous Daily High139.93
Previous Daily Low133.48
Previous Weekly High153.32
Previous Weekly Low100.73
Previous Monthly High288.7
Previous Monthly Low179.06
Daily Fibonacci 38.2%137.47
Daily Fibonacci 61.8%135.94
Daily Pivot Point S1134.87
Daily Pivot Point S2130.95
Daily Pivot Point S3128.41
Daily Pivot Point R1141.32
Daily Pivot Point R2143.85
Daily Pivot Point R3147.77

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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