Technical Analysis For ETH/USD

Cryptoknowmics  |  Jan 13, 2020

Within the previous few days, the price of ETH surged from $137 to $149 followed by a decline to $144. There is a likelihood of ETH against the USD pair to cross $150 by the coming week.

Within the previous few days, the pair has been into consolidation within the ascending channel. At the moment, the price of the pair is at $144.45 but remains over the 9-day and 21-day MA. When the market opened, the price surged to $146.77 but was resisted and later declined to the support at $142.12 where its correction started.

ETH bulls took over some days ago thereby making the price to surge over the 9-day and 21-day MA. Hence, the price may find support at $130 and $128 levels. A decline under the past levels could lead to another support close to $126.

If the price breaks over the channel, it could visit the hurdles at $155, $157 and $159. The price of ETH/BTC is experiencing a change at 1778 SAT. A look at its daily chart shows a perpetual short-term bullish trend, with a move towards the 9-day and 21-day.

Likewise, there are hurdles at the 1900 SAT and 1950 SAT with the nearest support at 1680 SAT and possibly 1630 SAT.

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