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Technical analysis

Ethereum Price Bullish Above $126.00

OctaFx | Dec. 24, 2018
Ethereum Price Bullish Above $126.00

December 24, OctaFX – Ethereum has opened the new trading week strongly, with the ETHUSD pair the strongest performing cryptocurrency amongst the top twenty cryptocurrencies by market capitalization.

ETHUSD Technical Analysis: Bullish Pattern Working

The recent break above the $126.00 level has triggered a bullish inverted head and shoulders pattern, with an upside projection extending well above the $150.00 level. Sellers need to move price back under the $142.00 in order to ease intraday bullish momentum.

  • The ETHUSD pair is bullish while trading above the $126.00 level, key resistance is found at the $160.00 and $195.00 levels.
  • If ETHUSD pair falls below the $142.00 level, sellers may test the $126.00 and $120.00 levels

Disclaimer

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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.