RATE Group | ETH/USD focus shifts $160 despite resistance at $150– Confluence Detector
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ETH/USD focus shifts $160 despite resistance at $150– Confluence Detector

05 Apr ETH/USD focus shifts $160 despite resistance at $150– Confluence Detector

Posted at 01:52h in Ethereum News by

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  • Ethereum price majestically steps above $150, comes into contact with $150 resistance but selling pressure cuts short the bullish action.
  • ETH/USD remains in the hands of the bulls despite the rejection at $150; the path of least resistance is to the north.

Ethereum is slightly in the green on Friday following a relatively bullish week. It calls for celebration among the bulls after the price action achieved the short term goal of stepping above $140 resistance. An intraday high has been formed at $142.51 (current immediate resistance). ETH/USD is trading at $141.89 amid a developing bearish momentum.

The American session on Thursday was treated to a wild bullish movement that saw Ethereum make a wild run-up to $150. Unfortunately, the selling pressure at $150 put an end to the bullish action. The 4-hour chart shows Ethereum trading above the moving averages which is a sign of a stronger influence.

Besides, the 50 SMA is holding position above the 100 SMA. In…

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