Ethereum is trading nicely above the key $140 support zone against the US Dollar. ETH price is showing a few positive signs and it could attempt to rally above $145.
Ethereum is currently consolidating above the $140 support area against the US Dollar.
The price is still struggling to gain bullish momentum above the $145 resistance.
There was a break above a major bearish trend line with resistance near $142 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a strong increase as long as it is above the $140 support and the 100 hourly SMA.
Ethereum Price Could Rally Soon
Recently, Ethereum made another attempt to surpass the $145 resistance against the US Dollar, but it failed. ETH price formed a swing high near the $146 level and declined below $142. However, the decline was protected by the main $140 support and 100 hourly simple moving average. The price is currently rising and trading nicely above the $142 level. Read More...