- Ethereum extends gains above $142 for the first time since March 18.
- ETH/USD current gradual breakdown risks sliding below the critical $140 level.
ETH/USD came out of the stubborn range between $137 and $139 on Friday morning. The second largest crypto extended the gains above $140 in a bullish engulfing candlestick. The candlestick zoomed above $142 but fell short of $143.
Currently, there is a gradual breakdown risk sliding below the critical $140 level. In spite of the correction, Ethereum’s technical levels remain very positive with the RSI back in overbought zone for the first time since March 27. The MACD 1-hour confirms the uptrend at +.75590.
ETH/USD bulls have a task to ensure the asset stays above $140 otherwise Ethereum could trend lower and return to the stubborn range. The various support levels to look out are the 50 SMA at $139, the 61.8% Fib level and the 100 SMA currently at $137.00.
ETH/USD 1-hour chart
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