Ethereum Price Analysis: ETH/USD Will Reach To $ 145
The Ethereum cryptocurrency market (ETH) has seen positive dynamics. Buyers overcame another barrier of resistance, then ETH/USD should rise to $ 145 by April 9th.
⦁ Ethereum has risen in price by 3% and fixed above the resistance at $ 135.
⦁ An uptrend line with support at around $ 131 has formed on the hourly chart.
⦁ ETH/USD will rise to $ 140.
On April 1, the bulls broke through the upper boundary of the declining triangle, breaking the powerful resistance zone at $ 135. As a result of the upward movement, ETH price rose to $ 139 (Gemini data) and then adjusted to $ 136.
The resistance barrier at $ 135 acts as the closest support zone and is at 50% Fib recorded during the coin rate pump from $ 129 to $ 139. If buyers to defend this barrier, the value of Ethereum will be striving for the next barrier - $ 138. The upward trend will meet resistance at $ 140 and $ 142. In the case of a positive scenario, the bulls will break $ 145, and cryptocurrency will rise in price to $ 150.
Ethereum Drop Is Unlikely
ETH is reliably protected against loss by support zones of $ 135 and $ 130. As long as the price of a coin exceeds $ 130, positive dynamics will remain in the market. The growth rate of Ethereum is evidenced by two facts:
⦁ ETH/USD price does not fall below the line of the bull trend that started on March 16;
⦁ The triangle has been broken up.
Note, that the upward movement is not very fast. Therefore, most likely, Ethereum will rise in price slowly, and the bar of $ 145 will be reached by April 9. However, because of going beyond the triangle, the level of volatility can increase. In this case, the bulls will be able to pump the asset rate to $ 150 per week.
⦁ 4 hours MACD is in the bullish trend zone.
⦁ 4 hours RSI is above 60 (in the neutral area).
⦁ The main support level is $ 132.
⦁ The main resistance level is $ 140.
⦁ The nearest pivot points: $ 129 and $ 139.