Ethereum settled in a range between $145 and $150 after the recovery momentum became unsustainable above $150. The consolidation will continue in the near term but a breakout is expected towards $200. Ethereum bulls are finally waking up toward the end of the Asian session on Wednesday. The recent slump to $132 was a wakeup call and a reminder that disintegrating below $100 is possible. For this reasons, Ethereum bulls pulled up their socks, pushing the price above $150. Consequently, movement above $150 became largely untenable. In lieu of this, the price adjusted into consolidation between $145 and $150. The Bollinger Bands suggest that the consolidation phase will last longer, although the phase will culminate in a breakout. Offering immediate support to the downside is the 100 SMA on the 1-hour chart currently at $147.46. The Bollinger Band 1-hour middle curve is also inline to offer support above the 50 SMA at $145. The RSI displays a market that is leaning to the bullish side. Supporting the RSI, is the Elliot Wave Oscillator, which has had a continued bullish session since yesterday. It is apparent that on breaking the $150 hurdle, Ethereum could easily change the course while focusing on $200. 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. View All Post By FX Street Crypto News share Read Next China’s Industrial Profits plunge 9.9% YoY in Oct, Aussie little changed FX Street 3 years Ethereum settled in a range between $145 and $150 after the recovery momentum became unsustainable above $150. The consolidation will continue in the near term but a breakout is expected towards $200. Ethereum bulls are finally waking up toward the end of the Asian session on Wednesday. The recent slump to $132 was a wakeup call and a reminder that disintegrating below $100 is possible. For this reasons, Ethereum bulls pulled up their socks, pushing the price above $150. Consequently, movement above $150 became largely untenable. In lieu of this, the price adjusted into consolidation between $145 and $150. The… 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.
