Ethereum Price Analysis: ETH/USD recovery stops at $150, where to next?


  • Ethereum’s bullish action stalls at $150 but the technical picture remains positive.
  • The former resistance at $148 turns into a vital support for Ethereum.

Ethereum is trading 4% higher on the day following widespread recovery movements across the board. The stubborn selling activity at $148 was smashed this time, allowing Ether to jump above $150.

However, the trend became unstainable, forcing the bulls to take a step back to the market value at $149.19. The former resistance at $148 is currently working as the immediate support. The technical picture remains positively intact with the RSI staying within the overbought territory.

The buyers have no choice but to break the $150 barrier. The move will not only allow them to focus on $160, but also it will remove the risk of plunging back to the support at $142. Other key support areas include $140, $130 and $120. In addition to that, the ascending trendline is in line to offer support if a reversal occurs.

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 & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD bounces off $9,400 support after rejection at $9,700

The cryptocurrency market is in the green on Monday, during the Asian session. The largest cryptocurrency by market capitalization, Bitcoin is trading 1% higher on the day. BTC/USD opened the session at $9,446 and ...

More Bitcoin News

XRP/USD drops below $0.2000 after a failure at $0.2030

XRP/USD tested the intraday high at $0.2031, but the strong resistance located around this area discouraged the short-term bulls and pushed XRP/USD below $0.2000 by press time.

More Ripple News

Ethereum Price Analysis: ETH/USD consolidates weekly gains near $240

Ethereum (ETH/USD) surged higher on Saturday and touched its highest level since early March at $247 before closing the day with a daily gain of 10% at $243. The pair, however, has struggled to preserve its momentum ...

More Ethereum News

ADA/USD breakout from trendline support draws nearer to $0.1

Cardano continues to be one of the most active cryptocurrencies among the top 100. ADA/USD led crypto recovery last week to the extent of testing the critical $0.08. Although there was a brief break ...

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP