Technically, the 2-hour chart is gaining momentum in the bullish territory.
Ether Price Analysis
After forming a support base near the $148.00 level, ETH/USD started a fresh upward move. It broke the $150.00 and $155.00 resistance levels, but buyers once again failed to clear the $160.00 resistance.
ETH/BTC is trading with a positive tone above the 0.0380BTC support. The pair may soon settle above the 0.0400BTC resistance; later, it could test the 0.0420BTC resistance.
Starting with the 2-hour chart of ETH/USD, the pair corrected lower from the $159.96 high and declined below the $155.00 and $152.00 support levels. It broke the 23.6 percent Fibonacci retracement level of the upward move from the $131.50 low to $159.96 high.
The price even traded below the $150.00 level, but buyers appeared near the $148.00 support and protected further declines. A low was formed at $147.14 and the price recovered successfully above $155.00.
It seems like Ether is approaching the next key break either above $160.00 or below the $150.00 support. Below the $150.00 support and a bullish trendline, the price may revisit the $142.00 and $140.00 support levels.
On the flip side, a break above the $159.00 and $160.00 resistance levels could set the pace for more gains above the $165.00 resistance. The next major resistance above $165.00 is near the $172.00 level.
The 30-minute chart of ETH/USD suggests that the pair is trading near the $152.00 support, below which the price may decline toward the $148.00 support.
Overall, Ether is trading in a bullish trend and may soon clear the $160.00 barrier to climb further higher toward the $165.00 and $172.00 levels. If not, ETH/USD will most likely retest the $142.00 support.