Technically, the 2-hour chart indicators are moving lower toward midlines in bullish territory.
Ether Price Analysis (ETH)
Recently, there was another dip in ETH/USD below the $141.00 support level. The pair tested the next key support at $140.00 and later bounced back sharply above $142.00.
On the other hand, ETH/BTC started a downside correction below the 0.0345 BTC support level. The pair is currently trading above the 0.0342 BTC support, but it may test the 0.0340 BTC support zone.
Starting with the 2-hour chart of ETH/USD, the pair seems to be forming a strong support above the $141.00 level. Recently, there was a dip toward the $140.00 level, but downsides were limited. Ether rebounded nicely above $142.00 and $142.50.
However, the price struggled to gain bullish momentum above $143.20. It seems like there is a crucial contracting triangle formed, with support at $141.00 and resistance near $143.00. Therefore, a successful close above the triangle resistance could set the pace for more gains toward $145.00 and $146.00.
A clear break above the $146.60 swing high is likely to push the price toward the $150.00 resistance. To the downside, the main supports are $141.00 and $140.00. Should Ether settle below the $140.00 support, the price could accelerate its decline toward the $136.00 or $135.00 support.
Moving down to the 30-minute chart of ETH/USD, the pair is approaching a strong resistance near $143.00 and a bearish trendline. If buyers fail to gain bullish momentum above $143.00 and $143.50, the price could retreat and retest the $141.00 support area.
Overall, Ether seems to be preparing for the next key break either above $143.50 or below $140.00 in the coming sessions.