ETH Targets 10% Rally in the Short Term

Ethereum (ETH) has gained positive momentum above major barriers against the US dollar. Thus, it is expected to move up, hitting $145 and $150 on the short run, according to News BTC website.

ETH is trading above its resistance f $135 against the US dollar. It seems that the cryptocurrency is targeting a 10% rally in the coming days.

Meanwhile, the Bitcoin (BTC) performance is reflecting positive signs above its resistance of $7,400.

There is an upward trend forming with the support level near $134 on the hourly chart of ETH/USD.

When tracking the ETH performance in the past few days, we will find the cryptocurrency is showing positive signs above its resistance of $130 against the US dollar. The cryptocurrency jumped above its resistance of $135 to settle above the 100 hourly simple moving average.

Traders expect the ETH to break through the resistance levels of $140 and $142. When the BTC surges above its resistance levels of $7,580 and $7,600, the ETH may follow suit and jump above $142.

The chart is credited to News BTC website

When looking at the chart, we will find that the ETH is gaining positive momentum above its resistance levels of $130 and $135. Thus, the cryptocurrency would maintain an upward trend above its resistance levels of $140 and $142 in the coming days.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.