- ETH price gained pace and broke the $115 and $120 resistance levels against the US Dollar.
- There is a connecting bullish trend line formed with support at $115 on the hourly chart of ETH/USD
- The pair remains in an uptrend and it could continue to move higher towards $108 or $115.
- ETH/BTC broke the resistance at 0.029BTC, 0.030BTC and 0.032BTC.
Ether Price Analysis
The hourly chart of ETH/USD suggests that the pair corrected sharply lower after forming a short-term top at $120.84. It even broke the $110.00 support, but buyers managed to defend losses below $108.00. A solid support base was formed. Later, the price bounced back above $110.00 and $112.00.
The current price action is indicating a fresh upward move if ETH surpasses the $115.00 resistance level. If not, there is a risk of an extended decline to $105 or $100.
- Important Support levels -$108, $115 and $120
- Important Resistance levels– $130,$135 and $142.
- Hourly RSI-The RSI is currently near the 55 levels.
- Hourly MACD-The MACD is slightly in the bullish zone.
ETH/BTC remains in a very bullish zone after a very long time. It has gained strong support above the 0.0280BTC level. The pair traded above the 0.030BTC resistance and continued to move higher and break the resistance at 0.032BTC level.
This has been one of the most significant surges of Ethereum against Bitcoin. ETH gained 15% against Bitcoin. The bottom has been successfully market at 0.030BTC.
Ethereum Co-Founder – ‘the Cryptobottom of 2018’
Joseph Lubin, the co-founder of Ethereum (ETH), declared that he is “calling the crypt bottom of 2018” in a tweet Dec. 21.
According to Lubin, the crypto market’s bottom “is marked by an epic amount of fear, uncertainty, and doubt,” specifically from industry media and social commentators, which he refers to as “our friends in the 4th and crypto-5th estates.”
Concluding, Lubin reiterated his optimism about the future of ConsenSys and Ethereum, stating:
“The sky is not falling. From my perspective the future looks very bright. Peaking into 2019, if you could see the landscape through my eyes, you’d have to wear shades.”