Ethereum (ETH) Struggles Above $150, May Face Selling Pressure


Key Resistance Levels: $225, $250, $275
Key Support Levels: $150, $125, $100

ETH/USD Long-term Trend: Bearish
Ethereum is currently trading above $150 support after rejection at a high of $166 resistance. Before now, the pair has risen to $175 high after a successful rebound at the low if $140. The bulls could not penetrate the resistance at $175. Consequent upon that the pair dropped to a low of $152.

Ether faced a similar situation when it reached a high of $166. Now the market is consolidating above $150. The pair will further depreciate if the support is breached. On the upside, if the bulls sustain price above $150, a rebound is likely to occur. This will catapult the coin to rise.

ETH/USD – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 49 of the Relative Strength Index. This indicates that the market is in the downtrend zone and below centerline 50. It implies that the price may fall. The 21-day SMA and 50-day SMA are sloping downward.

ETH/USD Medium-term Trend: Bullish
On the 4 hour chart, ETH is in an uptrend. The price is at the point of breaking the bullish trend line. A break below the trend line implies that the upward move has been terminated. It also means the resumption of the downtrend.

ETH/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day SMA and 50-day SMA are sloping upward indicating the upward move. ETH is below 40% range of the daily stochastic. It means a further depreciation of the coin. The stochastic bands are attempting to make a U-turn, a probable change in the trend

General Outlook for ETH
The bulls and bears are contesting the price above $150. The pair may drop to a low of $135 if the bears break below the current support. On the other hand, if the current holds, Ether may rebound to the previous highs.

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results


  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.