Ethereum Price Forecast: Ether Readies For Upside Acceleration

By February 22, 2019 Ethereum
Click here to view original web page at www.ethnews.com

Key Highlights

Ether’s price stayed above the $142.00 support and bounced back above $146.00 against the US dollar.

Technically, the 2-hour chart indicators are rising higher in bullish territory.

Ether Price Analysis (ETH)

Recently, ETH/USD started a short-term downside correction and traded below the $145.00 support level. However, the decline was limited as the pair found bids near the $143.50 level and later bounced back.

ETH/BTC also started a solid rebound after it tested the 0.0365BTC support. The pair climbed higher and broke the 0.0370BTC resistance level. The next key resistance is at 0.0375BTC, above which the pair could test 0.0380BTC.

Ethereum Price Analysis ETH

Starting with the 2-hour chart of ETH/USD, there is a crucial range formed above the $140.00 and $142.00 support levels. The last decline was protected well above the $142.00 support, with a positive bias.

The price is currently gaining bullish momentum and trading near the $149.00 and $150.00 resistance levels. Should Ether break the $150.00 resistance and gain pace, there are chances of further gains in the near term toward the $155.00 and $160.00 levels.

On the other hand, if the price drops gain below the $146.00 support, it could revisit the $143.50 swing low. The main supports are near the $140.00 and $142.00 levels, below which there is a risk of a strong downside extension toward the $132.00 level.

Ether Price Analysis Chart

Moving down to the 30-minute chart of ETH/USD, the pair clearly bounced back after forming a base near the $144.00 level. Additionally, a short-term bearish trendline was breached, with resistance at $147.00, opening the doors for more gains.

Overall, the current price action and technical structure is very positive, suggesting an upside break above the $150.00 resistance 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.

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Chart and Ethereum Analysis News.

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.

Ether’s price stayed above the $142.00 support and bounced back above $146.00 against the US dollar.

Technically, the 2-hour chart indicators are rising higher in bullish territory. […]

Leave a Reply