Ethereum price is trading in a bullish trend zone against and is likely to accelerate further if it breaks the $145 and $150 resistance levels.
Ethereum Price Medium-term Analysis
Yesterday January 6, the price of Ethereum (ETH) was trading in a bullish trend zone. After testing the $122 support level on several occasions, the bulls pushed Ethereum price above the key $130 resistance level to move into a bullish zone.
Recently, there was a successful break above the $135 and $140 resistance levels. A new 2020 high was formed near the $145 level and the price is currently consolidating gains.
At press time, the coin is changing hands at the $142 level above the 9-day and 21-day Moving Averages (MA).
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
ETHUSD Price Short-term Analysis
On the 1-hour chart, the price of ETHUSD is in a bullish trend. The pair is trading above key resistances near $135 and $140. As long as there is no close below the $135 level, there are chances of a steady rise towards the $155 level in the short term.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
- Resistance levels: $145, $150, $155
- Support levels: $140, $135, $130
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.
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