Ethereum Price Analysis: ETH Back Above $130, Can 2019 Ends In Favor of The Bulls?

Summary

  • Ethereum noticed some temporary stabilization this week after the cryptocurrency rebounded from $125 and broke above the resistance at $130.
  • Against Bitcoin, ETH surged increased from the 0.017 BTC assist because it trades at 0.018 BTC.
  • Despite the latest worth rebound, Ethereum has nonetheless misplaced a complete of 10% over the previous 30 days of trading.

Key Support & Resistance Levels

ETH/USD

Support:  $130, $128, $120, $118.

Resistance: $145, $152, $160.

ETH/BTC:

Support: 0.0171 BTC, 0.0169 BTC, 0.0164 BTC.

Resistance: 0.0179 BTC, 0.0184 BTC, 0.019 BTC.

ETH/USD –  ETH Finally Makes Ground Above $133.50 

Since our final evaluation, ETH initially fell decrease from the resistance at $133.50 however managed to seek out assist at $125. Over the previous couple of days, it began to extend even increased, permitting it to interrupt above the resistance at $133.50 to achieve the $135 degree. Ethereum was unable to interrupt the resistance at $133.50, inflicting it to roll over towards assist at $130.

Ethereum remains to be an extended approach to be thought-about as bullish. A break above the December highs at $152 would affirm a bullish pattern. If ETH was to drop beneath the assist at $125, the market would then be thought-about as bearish.

Ethereum Short Term Price Prediction

If the bulls proceed to push Ethereum past the $135 resistance, preliminary increased resistance is anticipated on the $145 and $152 ranges. Above this, increased resistance lies at $158, $160 (100-days EMA), and $165. On the opposite hand, if the sellers push decrease from $135, preliminary assist is discovered at $128 and $125. Beneath this, further assist is discovered at $120, $118, and $116.

The RSI has just lately penetrated above the 50 degree, which reveals the patrons are beginning to achieve management over the market momentum. If the RSI can stay above 50 and proceed to journey increased, ETH ought to be headed towards $150. However, the Stochastic RSI is trading in overbought situations and is primed for a bearish crossover sign that will ship the market decrease.

ETH/BTC – ETH Rebounds Strongly From 0.0171 BTC Support

Against Bitcoin, ETH examined the assist at 0.0171 BTC (.886 Fibonacci Retracement) once more earlier than rebounding increased from this assist. After rebounding, ETH began to rocket increased because it reaches the 0.018 BTC degree. 

For this market to be thought-about ‘bullish,’ ETH should proceed to rise additional increased and break above the resistance at 0.02 BTC. For this market to be thought-about as bearish, ETH should fall and break beneath the assist at 0.0171 BTC.

ethbtc-dec30

Ethereum/BTC Short Term Price Prediction

If the bulls can proceed to drive additional increased from the resistance at 0.018 BTC, increased resistance lies at 0.0185 BTC and 0.019 BTC (0.618 Fib Retracement). Above this, resistance is discovered at 0.0198 BTC, 0.020 BTC (100-days EMA), and 0.0204 BTC. Alternatively, if the bears begin to push the market decrease, preliminary assist is discovered at 0.0179 BTC. Beneath this, assist is discovered at 0.0175 BTC, 0.0171 BTC, and 0.0169 BTC.

The RSI has just lately poked above the 50 degree, which reveals the bulls trying to take management over the market momentum. Similarly, the Stochastic RSI just lately produced a bullish crossover sign that helped to ship the market increased.

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Disclaimer: Information discovered on CryptoPotato is these of writers quoted. It doesn’t signify the opinions of CryptoPotato on whether or not to purchase, promote, or maintain any investments. You are suggested to conduct your personal analysis earlier than making any funding selections. Use offered data at your personal threat. See Disclaimer for extra data.

Cryptocurrency charts by TradingView.
Technical evaluation instruments by Coinigy.

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