Ethereum Bullish Momentum Growing Amid Bearish Sentiments

January 9, OctaFX – Ethereum continues to hold firm around the $150.00 level, despite bearish fundamental developments surrounding the ETHUSD pair on Tuesday.

Buying momentum is growing in the short and medium-term, with the ETHUSD pair also exhibiting the formation of a bullish cup and handle pattern on the lower time frames. Only a strong move below the $138.00 support level can negate upside pressures.

Ethereum Price Technical Analysis

  • The ETHUSD pair is bullish while trading above the $138.00 level, key resistance is found at the $172.00 and $195.00 levels.
  • If ETHUSD pair trades below the $138.00 level, sellers may test towards the $125.00 and $108.00 support levels.


This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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