ETH/USD: $150-160 as support?

[Adriana Lowe]

Credit: free chart from Sigma by Hydra X.

ETHUSD broke above $150-60 resistance, but has seen upward progress checked by sellers in the $175 area. $150-60 could act as resistance-turned-support, and any stop hunt that brings prices back to the $150 region could create a good risk-reward for opportunistic longs.

[Chrisfreville]

The ETH/USD pair is now in a bullish trend. In the last one month, the price of Ethereum had been trading between the levels of $220 and $280. The bulls had made several attempts to break out this range but to no avail. On June 21, the bulls broke the $280 upper price range and reached the previous high of $315 price level.

The 12-day EMA and the 26-day EMA are trending northward indicating an uptrend. A trend line has been drawn to determine the duration of the bullish trend. If a bullish trend is ongoing, the candlestick will test the trend line and make an upward move to the previous highs or new highs.

eETH/USD pair is still in a bullish trend. However, if price breaks the trend line and another candlestick closes on the opposite of it; the bullish trend is said to be terminated. The ETH price is expected to reach a high of $340 price level. Meanwhile, the MACD line and the signal line are above the zero lines which indicates a buy signal.