Home Ethereum Price Analysis: ETH/USD bulls set eyes at $140.00
Crypto News

Ethereum Price Analysis: ETH/USD bulls set eyes at $140.00

  • ETH/USD has moved outside the recent range amid improved technical picture.
  • The local resistance is created by a psychological $140.00.

ETH/USD bottomed at $124.17 on March 30 and has been recovering ever since. At the time of writing, the second-largest coin is changing hands at $137.50, which is 3% higher from this time on Wednesday. Over 7% of ETH holders are losing money at the current price and only 2/6 million addresses purchased their coins at a cheaper price.

ETH/USD: Technical picture

A sustainable move above 1-hour SMA200 at $134.00 improved the short-term technical picture and opened up the way towards $140.00. Once it is cleared, the recovery may be extended to the upper line of the daily Bollinger Band at $145.70. This resistance may slow down the upside momentum; however, a sustainable move higher will bring psychological $150.00 into focus. The ultimate bullish goal is created by SMA200 daily at $175.00.

On the downside, the initial support is created by a combination of SMA200 1-hour and the lower middle of 1-hour Bollinger Band a5 $134.00. The next strong barrier is created by a recent channel support at $131.70 reinforced by SMA100 1-hour. If it is broken, the sell-off may be extended towards psychological $130.00, followed by March 29 low at $124.00.

ETH/USD 1-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.