RATE Group | Ethereum (ETH) Shows Signs of Important Reversal, $150 Imminent?
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Ethereum (ETH) Shows Signs of Important Reversal, $150 Imminent?

23 Dec Ethereum (ETH) Shows Signs of Important Reversal, $150 Imminent?

Posted at 05:56h in Ethereum News by

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  • Ethereum is climbing higher and trading nicely above the $130 level against the US Dollar.
  • The price is likely to continue higher once it surges above the $150 resistance.
  • There is a rising channel forming with support near $133 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is up more than 5% and it is likely to test $8,000 in the near term.

Ethereum price is gaining bullish momentum versus the US Dollar, and bitcoin rallied above $7,500. ETH price seems to be following an uptrend and it could test $150.

Ethereum Price Analysis

In the weekly forecast, we discussed the chances of more upsides in Ethereum above the $125 level against the US Dollar. ETH price did gain momentum and rallied above the $130 resistance.

Moreover, there was a close above the $130 level the 100 hourly simple moving average. Similarly, bitcoin price surged more than 5% and broke many resistances near $7,500.

Ethereum is also up around 5% and it is trading near the key $135 resistance. If there is a…

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