Predicting This Week’s ETH Performance

News / 29.12.2019

The ETH/USD price is incredibly moving upwards. The price may rise to above $ 130 and $ 135 to a powerful uptrend. Last week, the price dropped below the support at $ 126. However, the ETH/USD 

The 4-hour price chart reveals that the price got close to the support zone at $ 122 and remained under 100 SMA.

Eventually, the ETH/USD formed its latest low close to $ 123 before the start of an upside correction. The price continued over the hurdle at $ 125. Additionally, a key resistance formed close to the zone at $ 130, leading to a selling trend line with limitations close to $ 130.

Analyzing the ETH Price Chart

The ETH price chart shows that the immediate hurdle over the trend line is close to $ 132 and the 100 SMA. Additionally, the critical hurdle is close to $ 315 and has a high chance of inclining. If an upsurge happens, ETH’s price could rise towards the limitations at $ 144 and $ 150.

On the contrary, the price may incline over the hurdles at $ 130 and $ 132, hence risking a move on the downside, under the support at $ 122 and $ 120. A seller getting a momentum below $ 120 could lead to a breakdown, thus visiting the support zone at $ 105.

avatar
Patrick is a third culture kid born to Brazilian parents, who enjoys reading, writing and thinking. He believes we need to be relentlessly improving models for investing in good ideas and moving them from the lab to the market, which naturally draws him to the cryptocurrency and blockchain space.