In this Ethereum price analysis, ETH/USD is in the upward trend and if the bulls break the resistance level, the crypto’s price will reach the highs of either $150 or $170 price level.
Ethereum price was in a bullish momentum yesterday, March 28. However, the price dropped after the bulls were resisted after testing the $140 resistance level.
Today, March 29, the price of ETH has resumed the upward trend to make another attempt at the said resistance level. On the upside, if the bulls successfully break the resistance level, the Ethereum will rise to the highs of either $150 or $170 price level.
On the downside, however, if the bulls are unable to break the resistance level, the price will decline to the support of the 12-day Exponential Moving Averages (EMAs). If it declines below the EMAs, the price will plummet to a low of $135. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line. This indicates a buy signal. Moreover, the price Ethereum is above the EMAs which is an indication that the price is in a bullish trend zone.
As the 1-hour chart shows, ETH price is in a bullish trend. The price is trending above the 12-day EMA as well as the 26-day EMA, indicating that price is in the bullish momentum. The bulls were resisted on Thursday and the price dropped below EMAs, nevertheless, the bulls pulled the price back above the EMAs.
Meanwhile, the price of Ethereum is in a bullish trend trading at $140.89. The MACD line and the signal line are also above the zero line, indicating a buy signal. Moreover, ETH price is above the 12-day EMA as well as the 26-day EMA. This indicates that the price is in the bullish trend zone.
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