The Ethereum cryptocurrency has continued to appreciate against the US Dollar. The 50-, 100– and 200-hour SMAs provided support for the pair at 140.4 during the previous trading session.
Everything being equal, it is likely that the ETH/USD exchange rate continues to surge during the following trading sessions. The potential upside targets will be near the weekly R1 at 160.4.
However, the weekly resistance level at 149.73 could hinder bulls from pushing the cryptocurrency higher in the coming days.
Everything being equal, it is likely that the ETH/USD exchange rate continues to surge during the following trading sessions. The potential upside targets will be near the weekly R1 at 160.4.
However, the weekly resistance level at 149.73 could hinder bulls from pushing the cryptocurrency higher in the coming days.
Note
The ETH/USD exchange rate has appreciated about 29.98% since March 29. The cryptocurrency breached the upper boundary of a dominant ascending channel at 174.1 on April 3. After hitting the $185 mark, the Ethereum cryptocurrency began to decline against the US Dollar. The decline was stopped by a support cluster formed by the weekly and the monthly pivot points at 161.0.
By and large, it is likely that the cryptocurrency exchange rate continues its upside movement. The pair could aim for a re-tests of the $185 mark during the following trading sessions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.