Ethereum jumps above $160 resistance following the drop from $176 to $150. ETH/USD is likely to settle in consolidation above $160 ahead of a breakout above $170. Ethereum bulls are feeling energetic on Wednesday as the Asian session paves the way for the European session. For a couple of days, the price struggled with the resistance at $160 after the rejection from highs around $176 found support at $150. Following a 1.16% growth on the day, Ether is teetering at $160.39. The cryptoasset has also adjusted upwards above the trendline resistance and now seats comfortably above the moving averages. In the 4-hour range, the 100 SMA is holding the ground at $157.38 while the 50 SMA will provide support but currently lies at $156. The RSI, in the same range, is above the average after the momentum stalled at 60. The trend is likely to remain sideways between 50 and 60. This way, ETH/USD could embrace consolidation as buyers gather the strength to push for gains above $170. The MACD’s horizontal movement within the positive region puts emphasis on a possible sideways action with a bullish bias. Ethereum resistance and support areas Resistance one: $163.09 Resistance two: $178.12 Support one: $159.74 Support two: $153.06 ETH/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/IDR: Indonesian rupiah off monthly highs post mixed Trade data FX Street 2 years Ethereum jumps above $160 resistance following the drop from $176 to $150. ETH/USD is likely to settle in consolidation above $160 ahead of a breakout above $170. Ethereum bulls are feeling energetic on Wednesday as the Asian session paves the way for the European session. For a couple of days, the price struggled with the resistance at $160 after the rejection from highs around $176 found support at $150. Following a 1.16% growth on the day, Ether is teetering at $160.39. The cryptoasset has also adjusted upwards above the trendline resistance and now seats comfortably above the moving averages. In… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
