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    Ethereum Price Analysis: ETH Primed For More Gains Above $155

    Ethereum is gaining bullish momentum above the $147.80 and $150.00 resistance levels vs the US Dollar. ETH to USD is likely to accelerate higher above the $155.00 resistance in the near term.

    Key Takeaways: ETH/USD

    • Ethereum price is trading in a strong uptrend above the $147.80 resistance against the US Dollar.
    • ETH/USD is following a nice positive path and a bullish trend line with support near $147.00 on the 2-hours chart (data feed from Bitstamp).
    • Bitcoin price climbed higher sharply above the $8,450 and $8,500 resistance levels.

    Ethereum Price Analysis

    In the past few days, Ethereum price followed a bullish path above the $140.00 support level. ETH to USD is now in an uptrend, similar to bitcoin above the $8,450 resistance area.

    Ethereum Price Analysis

    Looking at the 2-hours chart, Ethereum price settled above the $147.80 resistance and the 50 simple moving average (2-hours, purple). Moreover, the price jumped above the $150.00 resistance level.

    The price traded to a new 2020 high at $153.34 and it is currently consolidating. An initial support on the downside is near the $150.70 level. It coincides with the 23.6% Fib retracement level of the latest upward move from $142.13 to $153.34.

    If there are more downsides, Ethereum could test the $150.70 support level. Moreover, the 50% Fib retracement level of the latest upward move from $142.13 to $153.34 is also near the $147.80 level.

    It seems like Ether is following a nice positive path and a bullish trend line with support near $147.00 on the 2-hours chart. If there is a downside break below the trend line support and $147.00, it could move towards the 50 simple moving average (2-hours, purple).

    On the upside, an initial resistance is near the $153.50 level. If there is an upside break above the $153.50 level, the price is likely to surge towards the $155.00 and $157.50 levels.

    The next major hurdle for the bulls is near the $160.00 level, above which Ethereum might test the $162.40 resistance level in the coming sessions.

    Live Ethereum (ETH) Price:

    1 ETH/USD =$170.1245 change ~ 1.40%

    Coin Market Cap

    $18.62 Billion

    24 Hour Volume

    $2.32 Billion

    24 Hour VWAP

    $169

    24 Hour Change

    $2.3902

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    Avatar
    Aayush J
    Aayush is a Senior Cryptocurrency Strategist and Forex Expert who has a decorated history of over a decade in FinTech Markets and IT industries. As a financial markets contributor and observer, his primary focus is on specializing and sharpening his skillset inside the Technical Analysis arena and is well known for his informative and entertaining analytical skills inside the Bitcoin, Etheruem and crypto asset markets.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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