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Ethereum price analysis: bulls may start to return above $155.00

By Nathan Batchelor

10:23, 7 April 2020

Ethereum price analysis

Ethereum has been on the rise over recent days, as the second-largest cryptocurrency starts to attract short-term buying interest.

Ethereum price analysis shows that the cryptocurrency could test towards the $180.00 level if bulls gain traction above the $155.00 level.

ETH/USD medium-term price trend

The ETH/USD pair has started to advance after it became apparent that selling interest below the $130.00 level was starting to weaken.

Ethereum has also strongly benefited from the recent rise in Bitcoin, and increasing demand for altcoins. 

Ethereum price analysis

Ethereum technical analysis shows that the cryptocurrency could test towards its 200-day moving average after sellers failed to breach key trendline support on the daily time frame.

Sustained gains above the March 20 swing high, around the $155.00 level, could prompt a fresh wave of buying interest for ETH/USD.

Key medium-term technical resistance is located at the ETH/USD pair’s 200-day moving average, around the $175.00 level, and possibly even the $180.00.

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US100

18,277.50 Price
-0.030% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 1.8

BTC/USD

70,486.60 Price
+2.180% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.63 Price
+1.490% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

ETH/USD

3,575.27 Price
+1.660% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

ETH/USD short-term price trend

Ethereum technical analysis shows that the cryptocurrency has a bullish short-term bias while the price trades above the $153.00 level.

The one-hour time frame currently shows that the ETH/USD pair is trading within a rising price channel. 

Ethereum price analysis

Failure to move the price below the rising price channel may result in the ETH/USD pair testing the top of the channel, around the $180.00 level.

As long as the price trades above the bottom of the channel, at the $137.00 level, the ETH/USD pair has a high probability of rallying.

Gains above the $153.00 level may help to encourage short-term buying interest towards Ethereum.

ETH/USD technical summary 

Ethereum technical analysis shows that the cryptocurrency could rally towards the $175.00 level. The price is currently working within a rising price channel.

Markets in this article

ETH/USD
Ethereum / USD
3575.27 USD
58.28 +1.660%

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