Ethereum Price Analysis: ETH/USD crawls back above  $145.00. Is it a dead cat bounce?


  • ETH/USD is under pressure despite the recovery from the intraday low.
  • The upside momentum may be limited as long as the coin stays below $150.00.

     
ETH/USD is trading `at $146.50, off the intraday low at $143.51. Despite the recovery, the ETH is moving with the short-term downside bias.  The second-largest digital asset, with the current market value of $15.9 billion, has stayed unchanged on a day-to-day basis and lost 1% since the beginning of Wednesday. 

Ethereum's technical picture

On the intraday charts, ETH/USD recovery is capped by SMA50 (Simple Moving Average) 1-hour at $147.75. We will need to see a sustainable move above this handle for the upside to gain traction with the next focus on psychological $150.00 reinforced by SMA200 1-hour. The pivotal resistance is created by $159.00. The middle line of the daily Bollinger Band and the lower boundary of the previous consolidation range will turn it into s stiff hurdle.

On the downside, the initial support is created by $145.00 (the lower line of 4-hour Bollinger Band). Once it is out of the way, the sell-off may continue towards the intraday low of $143.51 and psychological $140.00

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD consolidation lags triangle breakout

Bitcoin remained under pressure during the entire weekend. The attempts made to stay above $7,200 support failed, leaving to the path of least resist ace to be below $7,000. Bitcoin’s immediate upside is limited by the 50 SMA on the 2H chart.

More Bitcoin News

Ethereum Price Update: ETH/USD defends $140 support yet again

Ethereum is largely unchanged compared to the levels towards the end of last week. The pressure oozing from the bears continued across the weekend session. Besides action beyond $145 remained limited.

More Ethereum News

Ripple Price Analysis: XRP/USD spirals in freshly reignited downward momentum

Ripple has ignited the bearish momentum breaking the weekend-long support at $0.2160. The losses come after an attempt to break out from the descending channel resistance failed.

More Ripple News

Cardano’s IOHK celebrates 120 staking pulls less than 24 hours after testnet launch

The research firm in charge of developing Cardano, a major cryptocurrency, IOHK was delighted to announce the fantastic performance of the newly launched testnet.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP