Ethereum Price Weekly Analysis: ETH Sets New 2019 High, Eyes $175

  • ETH price finally broke the $149 and $150 resistance levels and gained pace against the US Dollar.
  • The price traded above the $160 resistance and formed a new 2019 high above $165.
  • There is a major bullish trend line formed with support near $148 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair remains in a strong uptrend and it could accelerate towards the $175 level in the near term.

Ethereum price gained bullish momentum above key resistances versus the US Dollar and Bitcoin. ETH/USD might continue to rise and it could even break the $170 and $175 levels.

Ethereum Price Analysis

This past week, we saw a brief consolidation pattern below the $150 resistance in ETH price against the US Dollar. The ETH/USD pair made many attempts to break the $149 and $150 resistance levels, but it failed. There was even a downside correction below the $146 and $145 supports. However, the $138 level acted as a strong support and the price was well above the 100 simple moving…

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2019-02-24 05:00:47

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