RATE Group | Ethereum (ETH) Reversal On Cards, Bitcoin Pump Warning Went Well
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Ethereum (ETH) Reversal On Cards, Bitcoin Pump Warning Went Well

19 Dec Ethereum (ETH) Reversal On Cards, Bitcoin Pump Warning Went Well

Posted at 03:23h in Bitcoin News by

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  • Ethereum is up more than 8% from the recent low of $115 against the US Dollar.
  • The price is showing signs of a trend reversal, but it must surpass $135.
  • Earlier, there was a break above a connecting bearish trend line with resistance near $122 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin rallied more than 10% and reversed most its losses from well above $7,000.

Ethereum price is moving into the positive zone versus the US Dollar, while bitcoin already reclaimed $7,000. ETH price is likely to grind higher towards $135, $140 and $144.

Ethereum Price Analysis

After a massive drop, Ethereum extended its decline below the $120 support against the US Dollar. ETH price tested the $115 zone and formed a new multi-month low.

However, the bulls took a strong stand near $115, resulting in a sharp pullback above $120. Moreover, bitcoin price jumped more than 10% and rallied above $7,000 (as warned in yesterday’s analysis – Bitcoin (BTC) Bears Remain in Driver’s Seat but Bulls…

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