- Ethereum (ETH) hits a new 2020 high of $148
- Ether is struggling to gain traction over the $148 and $150 hurdle points
Ethereum News Today – Ethereum (ETH) has been rising gradually over the $142 and $145 hurdle points against the US dollar. The recent upsurge of about 5 percent in BTC price over $8,400, had a positive effect on ETH price. The price of Ethereum (ETH) broke over the $148 hurdle point before it started correcting lower.
Ethereum (ETH) Bulls Hesitate But Rises Gradually
In the past few trading sessions, the price of Ethereum amassed steady gains over the $140 hurdle point against the US dollar. The price of the digital currency also surpassed the $142 and $145 hurdles. Ethereum (ETH) also surged to a new 2020 high of $148 and it is presently consolidating gains. The digital currency is trading close to the 23.6 percent Fibonacci retracement level of the previous swing from the low of $139 to the high of $148.
Ethereum (ETH) Price Today – ETH / USD
It appears as if Ethereum is finding support close to the $145 mark. The next major support of the coin is between $143 and $144. Moreover, the 50 percent Fibonacci retracement level of the previous swing from the low of $139 to the high of $148 is also close to the $143.5 mark. Also, the recently highlighted bullish trendline is intact with support close to $142 on the hourly chart of the Ethereum against the US Dollar.
Hence, if the digital currency decides to head south, it could find support close to $143 and $142. Provided the digital currency remains over the $142 support level, the bulls are likely to push its price over the $148 and $150 hurdle points. Over that level, the next main target could be the crucial $158 resistance level in the short-term.
A Great Time to Invest In Ethereum (ETH)
If the digital currency breaks below the $142 support level, it could start a downwards extension towards the $138 hurdle point and the 100 hourly simple moving average. The major support is close to the $135 mark, where the bulls are likely to take a stand. If it breaks below that level, it may start a fresh downward trend towards the $128 support level.
Looking at the chart, the price of Ether is showing several positive signs over the $142 support level and the 100 hourly simple moving average. In the near term, the digital currency could experience a minor dip. However, the price of the digital currency is likely to bounce back and break over the $148 and $150 resistance levels. Ethereum is currently trading at $144, and it is currently consolidating gains.