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  • Ethereum price deals with a fresh round of declines following a rejection at $135.
  • Ethereum price struggles to hold above $130 support unlikely to succeed especially if the selling continues at $135.

Spot rate: $131

Relative change: -4.36

Percentage change: -2.78

Trend: Bearish

Volatility: Low

ETH/USD daily chart

ETH/USD price chart

Ethereum price recovery faces increased selling activity at $135 and $135. Besides, the price is under the 200 SMA and the 50 SMA which gives the bears an edge above the buyers.

If the support at $130 holds throughout the weekend session, Ethereum bulls could enact another assault at $150 riding on improved sentiments and fundamentals.

ETH/USD hourly chart

ETH/USD

Short term analysis shows Ethereum price nurturing a bullish trend despite the break under an ascending channel. The 50 SMA is the immediate resistance zone. The bulls need to rise above this zone to pave the way for more action above $135. However, the RSI stability at 50 suggests ETH/USD lacks the power to sustain an uptrend, at least for now.

 

 

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