Categories: Ethereum

Ethereum Price Forecast: Ether In Significant Uptrend Above $140

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Key Highlights

Technically, the 12-hour chart is gaining pace in the bullish territory.

Ether Price Weekly Analysis

This past week, there was a fresh upward move in ETH/USD from the $135.00 support area. The pair broke the $150.00 and $155.00 resistance levels, cleared the $160.00 barrier, and traded to a new yearly high at $163.57.

ETH/BTC surged higher and broke the 0.0380BTC and 0.0400BTC resistance levels. The pair even cleared the 0.0410BTC level and later started a downside correction below the 0.0400BTC support. The key support is at 0.0385BTC, followed by 0.0365BTC.

Starting with the 12-hour chart of ETH/USD, the pair is trading with a strong bullish bias above the $120.00 pivot level. The pair recently broke the $140.00 resistance and settled above $150.00. A high was formed at $163.57, and later the price started a short-term correction.

It tested the $155.00 support and is currently trading in a tight range. On the downside, there is a significant support near $145.00 and a bullish trendline with support at $142.00.

Should Ether trade below the $142.00 support, the price could test the next key support at $135.00. However, the main support is near the $120.00 pivot area and the 50 percent Fibonacci retracement level of the upward move from the $82.12 low to $163.57 high.

To the topside, the $160.00-165.00 area is a solid resistance, above which the price may accelerate toward the $170.00 and $175.00 levels. The main resistance is at $180.00, followed by $184.00.

The 2-hour chart of ETH/USD indicates that Ether’s price is preparing for the next break, with support at $148.00 and resistance near $157.00. The current price action is positive and there is a high chance of an upside break above $160.00 in the coming sessions.

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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The content on ETHNews.com is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.

Technically, the 12-hour chart is gaining pace in the bullish territory. Ether Price Weekly Analysis

This past week, there was a fresh upward move in ETH/USD from […]

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