Ethereum Price Analysis: ETH Could Correct Before Fresh Increase


Ethereum is trading in a bullish zone above the $140.50 pivot level vs the US Dollar. ETH to USD could correct in the short term before a fresh increase above $145.20.

Key Takeaways: ETH/USD

  • Ethereum price traded to a new yearly high at $145.19 and it is correcting lower against the US Dollar.
  • ETH/USD is likely to remains supported above $140.50 and a connecting bullish trend line on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin price could dip in the short term, but the bulls are likely to protect $137.80.

Ethereum Price Analysis

In the past few days, Ethereum price gained pace above the $135.20 and $137.80 resistance levels. ETH to USD even climbed above the $140.50 pivot level to move into an uptrend.

Ethereum Price

Looking at the 2-hours chart, Ethereum price settled above the $140.50 level and the 50 simple moving average (2-hours, purple). It opened the doors for more gains above the $142.00 level.

Finally, the price spiked above $145.00 and a new yearly high was formed near $145.19. The price is currently correcting lower and testing the 23.6% Fib retracement level of the latest rise from $134.29 to $145.19.

On the downside, there are many supports near the $141.00 and $140.50 levels. Besides, Ethereum is likely to remains supported above $140.50 and a connecting bullish trend line on the 2-hours chart.

Moreover, the 50% Fib retracement level of the latest rise from $134.29 to $145.19 is also likely to provide support near the $139.75 level. Any further losses below $139.75 and the bullish trend line might open the doors for more losses in the coming sessions.

The next support could be $137.00 and the 50 simple moving average (2-hours, purple). Conversely, the price could resume its rise after a short term correction towards $140.50.

An initial resistance is near the $145.20 level. If there is a clear break above the $145.20 level, Ethereum price is likely to accelerate towards the $149.50 and $150.00 levels in the near term. The next major hurdle is near the $152.50 level.

Live Ethereum (ETH) Price:

1 ETH/USD =$4,149.1605 change ~ 12.95%

Coin Market Cap

$480.77 Billion

24 Hour Volume

$30.18 Billion

24 Hour VWAP

$3.69 K

24 Hour Change

$537.30

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide