ETH/USD Technical Analysis: ETH/USD trades for $140 as more growth is expected

ETH/USD daily chart

• ETH/USD daily chart is currently consolidating before getting ready for a breakout.
• Immediate resistance for the bulls lies at $142.
• Moving average convergence/divergence shows slight bullish momentum.

ETH/USD 4-hour chart

• ETH/USD 4-hour chart is trending above 20-day simple moving average (SMA 20), SMA 50, and SMA 200 which is a bullish sign.
• Even though the last session was bearish, it was trending close to the upper curve of the 20-day Bollinger band.
• The Bollinger band’s narrowing shows that market is decreasing in volatility.

ETH/USD hourly chart

• The ETH/USD hourly chart was consolidating inside the green cloud of the Ichimoku indicator before it underwent a bearish breakthrough.
• Despite that one bearish movement, the Elliot wave histogram shows an increasing bullish momentum.

Key Levels

• Resistance 3: $145.78
• Resistance 2: $143.27
• Resistance 1: $141.76
• Pivot Point: $139.25
• Support 1: $137.73
• Support 2: $135.22
• Support 3: $133.71