{"id":371866,"date":"2019-02-19T04:08:41","date_gmt":"2019-02-19T04:08:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=371866"},"modified":"2024-06-11T13:07:45","modified_gmt":"2024-06-11T13:07:45","slug":"ethereum-price-analysis-eth-rally-takes-break-uptrend-intact-above-140","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-price-analysis-eth-rally-takes-break-uptrend-intact-above-140\/","title":{"rendered":"Ethereum Price Analysis: ETH Rally Takes Break, Uptrend Intact Above $140"},"content":{"rendered":"
Ethereum price posted solid gains against the US Dollar and bitcoin. ETH\/USD tested the $150 resistance area and it may now correct lower before a fresh bullish wave in the near term.<\/em><\/p>\n Yesterday, we saw a nasty upward move<\/a> from the $125 swing low in ETH price against the US Dollar. The ETH\/USD pair rallied above the $130 and $136 resistance levels to move into a bullish zone. Later, buyers gained traction and pushed the price above the $140 and $142 resistance levels. There was a bearish reaction noted near the $148 level and the price dipped towards the $140 support. Sellers failed to gain momentum, resulting in a fresh upward move above the $145 and $148 resistance levels. It traded close to the $150 resistance and settled well above the 100 hourly simple moving average.<\/p>\n At present, the price is consolidating gains above $145, with a few bearish moves. It broke the 23.6% Fib retracement level of the recent wave from the $134 low to $150 swing high. The last hourly candle is suggesting an increase in selling pressure below $150. However, there are many supports on the downside near the $145, $142 and $140 levels. More importantly, there is a major bullish trend line in place with support at $142 on the hourly chart of ETH\/USD.<\/p>\n If there is a break below the trend line, the price could test the $140 support area. It coincides with the 61.8% Fib retracement level of the recent wave from the $134 low to $150 swing high. Any further losses could spark an extended downside correction<\/a> below $138 and $136. To the topside, the $148 and $150 levels are strong barriers for buyers in the near term.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n