ETH Buyers Are Hesitating But Upsurge Over $150 Is Imminent
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ETH Buyers Are Hesitating But Upsurge Over $150 Is Imminent

January 8, 2020      Cryptoknowmics

The price of ETH/USD is increasing steadily over the hurdles at $142 and $145. Likewise, it was able to surge over $150 after the price of BTC increased to over $8,400.

Within the previous few sessions, the price of ETH/USD increased steadily over the hurdles at $140. Further, the price surged over the hurdles at $142 and $145.

It eventually attained a fresh 2020 high at $148 and it is now consolidating gains. It is like the price found support close to $145. The immediate major support is from $143 to $144.

A look at the hourly chart of ETH against the USD shows that the key bullish trend line noted in the previous day is intact with support close to $142. Hence, further declines may be supported close to $143 and $142.

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If the price stays over the support at $142, the buyers could take the price over the hurdle at $148 and $150. The immediate key target for buyers may be the major hurdle zone at $158.

If the price moves below the support at $142, it may extend a downside move towards the support zone at $138 and the 100 hourly SMA. Any additional declines could lead to a move towards the support at $128.

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