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Ether Price Analysis
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Ethereum Price Forecast: Ether Could Accelerate Higher





Ether’s price moved back in a bullish zone against the US dollar and bitcoin. ETH/USD could continue higher once it breaches the $142.00-145.00 resistance area.

Key Highlights

Ether’s price settled above the $130.00 resistance with a positive angle against the US dollar.
A crucial bearish trendline is formed with resistance at $142.00 on the 2-hour chart of ETH/USD.
ETH/BTC is placed nicely for more gains above the 0.0360BTC level.

Technically, the 12-hour chart is moving higher in the bullish territory.

Ether Price Weekly Analysis

This past week, we saw ETH/USD consolidating losses above the $120.00 support. Later, buyers took control and pushed the pair above the $120.00, $125.00, and $135.00 resistance levels to resume its uptrend.

ETH/BTC also gained bullish momentum and broke the 0.0340BTC and 0.0350BTC resistance levels. The pair is currently trading with a positive angle and may continue to move higher toward 0.0380BTC and 0.0400BTC.

Ethereum Price Analysis ETH

Let’s start with the 12-hour chart of ETH/USD. The pair started a major downside correction from the $161.35 high. The price moved below the $140.00 support and the 23.6 percent Fibonacci retracement level of the last major move from the $82.12 low to $161.35 high.

However, the decline was protected by the $115.00-120.00 support and the 50 percent Fibonacci retracement level of the last major move. There is also a significant bullish trendline in place, with support at $125.00 on the same chart.

Moving down to the 2-hour chart of ETH/USD, the pair jumped sharply above the $135.00 resistance level. At the outset, Ether is currently struggling to gain momentum above the $142.00 resistance and a crucial bearish trendline at $142.00.

Ether Price Analysis ETH

A successful close above the $145.00 resistance and the trendline is required for an upside acceleration toward the $150.00 and $155.00 levels. Further above $155.00, the price is likely to break the $161.35 swing high in the near term.

To the downside, Ether is likely to find support near the $130.00 level. The main support is near $125.00 and $120.00, below which ETH/USD could move into a bearish zone.

Weekly Resistance Levels

$145.00 and $155.00

Weekly Support Levels

$130.00 and $125.00

12-hour RSI

The RSI is placed nicely above the 50 level.

12-hour MACD

The MACD moved back in the bullish zone.

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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