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.
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.
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.