Ethereum Price Could Test $150
This week, there were strong gains in Ethereum above the $135 resistance against the US Dollar. Moreover, both bitcoin and ripple started a strong surge in the past few sessions and rallied above $7,800 and $0.2150 respectively.
ETH remained in a positive territory and gained pace above the $138 resistance area. Recently, there was a successful break above the $140 resistance, plus a close above the 100 hourly simple moving average.
A new 2020 high is formed near the $145 level and the price is currently consolidating gains. An initial support is near the $143 level, and the 23.6% Fib retracement level of the recent wave from the $139 swing low to $145 high.
On the upside, Ethereum seems to be preparing for an upside break above the $145 resistance. If the bulls gain momentum above the $145 resistance, they could easily push the price towards the $150 resistance. Read More...