- ETH price gained traction and surpassed the key $138 resistance level against the US Dollar.
- The price formed a strong support near the $136 level before climbing above $138.
- This week’s major bearish trend line was breached with resistance near $138 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is now trading nicely above the trend line and eyeing more gains above $140 and $142.
Ethereum price slowly moved above key resistances against the US Dollar and bitcoin. ETH could continue to move higher towards the $145 resistance as long as it is above $138.
Ethereum Price Analysis
After a brief consolidation, ETH price formed a strong support near the $135 and $136 levels against the US Dollar. The ETH/USD pair slowly moved higher and broke a few important resistances near the $138 level. There was even a close above the $138 level and the 100 hourly simple moving average. This is a positive sign and has opened the doors for more gains above the $142 and $144…
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