The results of the week: when Ethereum will rise above $ 140?
Source:
The Price was unable to overcome major resistance line this week. Trading a pair of ETH/USD is still lacking momentum for a strong break to the upside with relatively large trading volumes, and the bulls still need to break the level 140 dollars for growth.
The Overall situation looks like this:
the-
the
- price Ethereum is once again faced with strong pressure from the sellers; the
- on a scale of 4-hour chart formed a line of the local uptrend with support at the point 132 USD; the
- if the dynamics of growth continues, the cryptocurrency will be able to break the level 140 dollars.
Today Ethereum is trading at 137 dollars. For the past day the coin fell to 1.13 percent.
theTechnical analysis
This week, the Ethereum showed good volatility to open a trading position. Most of the time the cryptocurrency has been consolidated under the line $ 140. Fortunately, the asset is still above the moving average SMA 100 on a scale of 4-hour chart, indicating that the continuation of the uptrend.
Bad news — the Airwaves are still not enough interested buyers. The price movements of the cryptocurrency is highly dependent on the behavior of Bitcoin next week, so jump in BTC will have a positive impact on ETH. By the way, some experts that at the upcoming bullride the Ethereum can ahead of profitability.
See also:
At the moment we recommend to refrain from opening trading positions in the ETH/USD. A good prerequisite for long will serve as the breakthrough of the resistance zone of $ 140. If the next week will start to drain below $ 130, feel free to open short positions.
Source: Included
Fortunately, the testimony of technical indicators talking about growth. The MACD is back to bullish zone and the RSI is above average. Even more interesting about Ethereum, please visit our .
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