Ethereum Price Forecast: Ether Targets Fresh Highs

By January 2, 2019 Ethereum
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Key Highlights

Ether’s price gained bullish momentum and broke the $145.00 and $150.00 resistances against the US dollar.

Technically, the 6-hour chart are gaining momentum in the bullish territory.

Ether Price Analysis

Yesterday, we saw the next breakout pattern in ETH/USD above the $142.00 and $145.00 resistance levels. The pair did break the $145.00 resistance and rallied above the $150.00 hurdle.

ETH/BTC also started a solid upward move above the 0.0360BTC resistance. The pair even broke the 0.0375BTC and 0.0380BTC resistance levels and it seems like there could be more gains toward the 0.0400BTC and 0.0410BTC levels.

Ethereum Price Analysis ETH

Starting with the 6-hour chart of ETH/USD, the pair corrected lower from the $161.35 swing high. It traded below the $140.00 and $130.00 support levels before buyers appeared near $115.00-120.00. Later, the pair formed a support base near $120.00 and traded above the $130.00 and $135.00 resistance levels.

Ether started a solid upward move, broke the $145.00 and $150.00 resistance levels, and is currently following a major bullish trendline, with support at $130.00 on the same chart.

At the outset, the price is trading near the $155.00-160.00 resistance zone. Should Ether break the $160.00 resistance, the price may climb toward the $165.00 and $170.00 resistance levels.

Ether Price Analysis Chart

Moving down to the 2-hour chart of ETH/USD, the pair formed a strong bullish pattern and broke a crucial declining channel with resistance at $141.00 to open the doors for an upside acceleration. The price spiked above the $155.00 level recently, and it seems to be facing sellers near the $156.00 and $157.00.

Overall, the recent bullish wave is signaling a strong increase in buying sentiment above the $145.00 support. On the downside, an initial support is at $150.00, followed by $145.00.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

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Ether’s price gained bullish momentum and broke the $145.00 and $150.00 resistances against the US dollar.

Technically, the 6-hour chart are gaining momentum in the bullish territory. […]

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