Ethereum (ETH) Surges Higher Against The USD Preparing For Higher Highs

Last year, the Ethereum price prediction 2019 was bearish. Many analysts were of the opinion that ether, the native token of the Ethereum blockchain, will fall even lower against the USD. This is because of all the cryptocurrencies that suffered from the bearish pressure during the cryptocurrency winter, ETH was among the biggest losses. Surprisingly, the price of ETH started bouncing back in December and January. After falling as low as $80, ETH doubled its value within a month trading as high as $160 before it started correcting lower against the USD.

Ethereum Price Prediction 2019: ETH Price Analysis

For a while now, ETH has been facing strong resistance at $140. The second cryptocurrency per market capitalization has been unable to cross this resistance. The good thing is that the price was able to clear the $134 support level and had a bullish trendline at $132. If ETH is able to cross the resistance at $140, there will be a more significant price surge.

Ethereum (ETH) Price Today – BTC / USD

#NamePrice24H %
2
ethereum
Ethereum(ETH)
$147.47
1.22%

Over the last seven days, the price of ETH has been taking swings within the $132 and $140 price range. It was unable to gain enough momentum against the USD to move as high as $140. There is a strong support at the $130 level. When ETH fell as low as this level, it bounced back quickly moving to the $134 level, $136 and even $138.

The $132 also has a strong bullish trend line that suggests that the price will become bullish soon. The 50% retracement of the last rise from $130 to $138 is around the $134 level. This acted as support initially before the price fell lower. Apart from the $140 resistance, there is also resistance at $138. ETH must cross these resistances to move toward and even above the $150 level. The significant resistance is at $140 while the significant support is at $132.

Ethereum Price Prediction 2019: ETH Price Analysis Short-term

Medium and long-term, the price of ETH is going to surge significantly against the USD according to the technical analysis. Short-term, however, the price of ETH has found support at $132 and $134. It is trading at $136.43. This shows that it is down by 1.56% and down by 1.13% against BTC. The 24 hour trading volume is $4,861,772,231 and the market capitalization is $14,348,883,780.

If the support falls below the support at $132 and $134, it may reach new monthly lows below $130. However, if it crosses the resistance at $138 and $140, it will reach $145 and even $150 before the end of the week. After the $150, a minor price correction will be necessary to prepare the price of ETH for a more significant rise against the USD.

What do you think? Will ETH reach $150 before the end of the week or will it fall below the all-important $132 support level? Share your thoughts in the comment section.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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