A Key Trend Is Forming For Ethereum and A Swift Rally Could Occur

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...

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