The bullish momentum emanated from the support congestion zone between $160-$162. To avoid exhaustion at this level, Ethereum must soon break above $170 and put the focus on $180. Ethereum is still inching closer to the critical resistance at $170 from the previous update where it had just broken past the descending trendline barrier. The bullish momentum emanated from the support congestion zone between $160-$162. This zone has been very instrumental to the buyers who have been fighting to ensure that they stop declines below $160 since Tuesday last week. Following the breakout on Monday in an engulfing candle, the price zoomed above several key levels starting with the 50 SMA 1-hour, the channel resistance, the EMA200 resistance and the 100 SMA 1-hour. A further movement made pushed the price above $166 hurdle as well as $168. The intraday chart shows the price brushing shoulders at $170 but retraced back to $169.34. The up-trending RSI shows a building bullish momentum that could soon make headway above $170. The strong bullish trend is confirmed by the rising MACD at +1.352. However, to avoid exhaustion at this level, Ethereum must soon break above $170 and put the focus on $180. Otherwise, the price could retrace back to the bullish zone at $160 – $162 to a fresh buy interest. 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 EUR/GBP Technical Analysis: Euro reversing up from 2019 lows against Sterling FX Street 3 years The bullish momentum emanated from the support congestion zone between $160-$162. To avoid exhaustion at this level, Ethereum must soon break above $170 and put the focus on $180. Ethereum is still inching closer to the critical resistance at $170 from the previous update where it had just broken past the descending trendline barrier. The bullish momentum emanated from the support congestion zone between $160-$162. This zone has been very instrumental to the buyers who have been fighting to ensure that they stop declines below $160 since Tuesday last week. Following the breakout on Monday in an engulfing candle, 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.
