Ethereum Price Analysis: ETH Bullish Case For Breakout Above $140

ETH price started a solid upward move and traded above the $138 resistance against the US Dollar.
The price tested the $140 resistance and it seems like there could be more gains.
There is an ascending channel in place with support at $138 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to accelerate higher once there is a clear break above the $140 resistance level.

“Bullish” Bitcoin Escapes Another Breakdown Assault
Friday September 20, 2019

Bitcoin dramatically recovered overnight on Friday as investors/speculators digested the prospects of central banks’ easing measures. The benchmark cryptocurrency established a session high of $10,309.84 on San Francisco-based Coinbase exchange. The move upside brought...

The post “Bullish” Bitcoin Escapes Another Breakdown Assault appeared first on 12bitplay - Bitcoin Play.

Ethereum price is following a convincing bullish path against the US Dollar and bitcoin. ETH is likely to pump above the $140 resistance area in the coming sessions.
Ethereum Price Analysis
After a major drop, ETH price found support near the $130 area against the US Dollar. The ETH/USD pair started a solid recovery and broke the $134 and $135 resistance levels. Later, there was a close above the $135 barrier and the 100 hourly simple moving average. There were slow and steady gains above the $137 and $138 levels. The price even traded above the $139 level recently and tested the $140 resistance level. A swing high was formed near $140 and the price is currently consolidating gains.
An initial support is near the $138 level. It coincides with the 23.6% Fib retracement level of the recent wave from the $133 swing low to $140 high. There is also an ascending channel in place with support at $138 on the hourly chart of ETH/USD. Therefore, the price is likely to follow a solid bullish path as long as it is above the $138 support. If there is a downside break below the channel support, the price may test the $136 support area.
The 50% Fib retracement level of the recent wave from the $133 swing low to $140 high is also near the $136 level. Finally, the next support is near the $135 level and the 100 hourly simple moving average. On the upside, an initial resistance is near the $140 level, representing a crucial barrier for buyers. If there is an upside break above the $140 resistance, there could be heavy gains in the coming sessions.

Ethereum by Numbers Looking More Bullish Than Ever
Friday September 20, 2019

There is no doubting that Ethereum has been the shining star this week. There is a glimmer of hope that it may finally be decoupling from its big brother and starting to move independently...

The post Ethereum by Numbers Looking More Bullish Than Ever appeared first on 12bitplay - Bitcoin Play.

Looking at the chart, ETH price seems to be following a nice uptrend above the $138 and $136 support levels. Once there is a break above the $140 barrier, the price is likely to test the $144-145 resistance area. On the downside, if there is a break below the $138 support, buyers are likely to take a stand near the $136 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move back in the bullish zone.
Hourly RSI – The RSI for ETH/USD is currently correcting lower from the 70 level.
Major Support Level – $136
Major Resistance Level – $140
The post Ethereum Price Analysis: ETH Bullish Case For Breakout Above $140 appeared first on NewsBTC.

Bitcoin Price Close Above $10,700 Could BTC Flying; Here’s Why
Monday September 16, 2019

The cryptocurrency market is known for its volatility; over its ten-year history, the Bitcoin (BTC) price has been subject to massive moves, moves that change on which order of magnitude the asset is trading...

The post Bitcoin Price Close Above $10,700 Could BTC Flying; Here’s Why appeared first on 12bitplay - Bitcoin Play.

You may also like...