Ethereum price analysis: ETH/USD consolidation in full force, $150 hurdle could be shuttered


  • Ethereum settled in a range between $145 and $150 after the recovery momentum became unsustainable above $150.
  • The consolidation will continue in the near term but a breakout is expected towards $200.

Ethereum bulls are finally waking up toward the end of the Asian session on Wednesday. The recent slump to $132 was a wakeup call and a reminder that disintegrating below $100 is possible. For this reasons, Ethereum bulls pulled up their socks, pushing the price above $150.

Consequently, movement above $150 became largely untenable. In lieu of this, the price adjusted into consolidation between $145 and $150. The Bollinger Bands suggest that the consolidation phase will last longer, although the phase will culminate in a breakout.

Offering immediate support to the downside is the 100 SMA on the 1-hour chart currently at $147.46. The Bollinger Band 1-hour middle curve is also inline to offer support above the 50 SMA at $145.

The RSI displays a market that is leaning to the bullish side. Supporting the RSI, is the Elliot Wave Oscillator, which has had a continued bullish session since yesterday. It is apparent that on breaking the $150 hurdle, Ethereum could easily change the course while focusing on $200.

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

War for dominance hit the bedrock of the market

The cryptocurrency market reaches the end of the week with widespread declines in the crypto market. The week has been dominated by a boiling Altcoin segment that has set very significant rises.

More Bitcoin News

BCH/USD in retreat after gaining 7% in a matter of minutes

Bitcoin Cash (BCH) is still in a red zone on a day-to-day basis; however, the coin recovered strongly from the intraday low of $232.60 and hit $240.00 in a matter of minutes. At the time of writing, BCH/USD is changing hands at $237.00.

More Bitcoin Cash News

ADA/USD extends the decline, $0.1000 at risk

Cardano (ADA) extended the decline and hit $0.1102 on Friday. The coin has lost 20% from the peak of $0.1386 reached on July 8. At the time of writing, ADA/USD is changing hands at $0.1120, down 9% in the recent 24 hours.

More Cardano News

ETH/USD volatility ousted as DeFi skyrockets to $2 billion

Ethereum alongside the largest cryptocurrency, Bitcoin are dealing with a peculiar situation characterized by low trading volume, poor investor interest as well as the lack of catalysts.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP