In this Ethereum price analysis, the ETH/USD price breakout will empower the bulls to break the $143 resistance level and reach the previous high of $165. However, if price breaks below the EMAs, the price will decline.
Ethereum price was in a bullish trend last week. On Friday, March 29, ETH bulls met some resistance after testing the $146 price level. The price dropped to the support of the 12-day Exponential Moving Averages (EMA) to commence another bullish trend. In retrospect, the bulls have been unable to break above the $143 resistance level since February 24. On April 1, the ET/USD price is in a bullish trend.
On the upside, a price breakout will empower the bulls to break above the $143 resistance level and reach the previous high of $165. On the other hand, if ETH price breaks below the EMAs, the crypto’s price will decline. in the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero lines, indicating a buy signal. The price of ETH is above the EMAs. This indicates that Ethereum price is in a bullish trend zone.
As the 1-hour chart shows, the Ethereum price is in a range bound movement. The 12-day EMA, as well as the 26-day EMA, are both trending horizontally, indicating that the crypto’s price is in a range bound movement. On Saturday, ETH/USD price tested the $148 level and was however resisted.
The price dropped to a low of $143 and started a range bound movement. At the time of writing, ETH price is in a bullish trend trading at $145.16 today, April 1. In the meantime, the MACD line and the signal line are below the zero lines, indicating a sell signal. Moreover, ETH/USD price is in the bullish trend zone as the price is above the 12-day EMA as well as the 26-day EMA.
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