- Ethereum struggles to stay above $150 but reversal continues to beckon.
- $160 resistance level must come down to allow Ethereum bulls to focus on $160.
Ethereum price action over the weekend was largely lethargic. The recovery is from the recent slump towards $130 has not been able to rise above $160. Ethereum closed he trading on Friday at $149. The weekend action jumped slightly above $150 the momentum fizzled out at $152.23.
Ethereum is supported by the 100 SMA on the 4-hour chart holding ground at $149.22. The 50 SMA is sitting at $148.63 in line to offer more support. Another key support is the ascending trendline.
The MACD crossed into the positive region and is featuring a bullish cross to that the bulls have slightly bigger influence. Beside the full stochastic is inside the overbought, a situation suggesting that a reversal is around the corner. Additional support is expected at $145, $135 and $130.
ETH/USD 4-hour chart
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