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Ethereum Revives- Good Chances to Touch $160 Benchmark

Ethereum Revives- Good Chances to Touch $160 Benchmark

  • Ethereum presently is consolidating gains after revolving around the $155- $156 benchmark.
  • On the contrary, if the price is pulled back from its present resistance level of $155, then it is likely to fall at a $148 region.
  • The chances of downward drift to $142 level are fairly low but it can take a reverse turn if the price falls to $148 level.

Ethereum seems to revive at a good pace moving above $140 and $142 resistance levels against the US dollar. Eventually, this gives strength to the bulls pushing the price above the $150 resistance region.

With this, some other escalations were also welcomed when the price further elevated above the $152 resistance level. Ethereum presently is consolidating gains after revolving around the $155- $156 benchmark.

$152 marks the initial support level and currently, at the time of writing, the price is revolving around $155 mark with chances of further upward flow. ETH/USD chart has some other small barriers showing a bullish trend for a short period with $155 as the resistance level.

Any upward drift from $155 is likely to push the price to $156 and many estimations also claim that it will overtake $160 level and continue to rise. If everything goes as expected, then the next benchmark will be $165 level but there is no concrete evidence for this.

On the contrary, if the price is pulled back from its present resistance level of $155, then it is likely to fall at a $148 region. The next downward zone will be $142 if the trend follows the downward prediction.

For now, the chart clearly states that $148 and $152 zones have been overtaken and the flow products a positive flow in the future with good chances of moving above $155 zone.

The biggest challenge for ETH was the $140 resistance level which it has managed to overcome. For now, even a downward fall to $152 and $153 may act as the next challenge but breaking the $142 level with such a rapid speed is again in favor of a further upward flight. The chances of downward drift to $142 level are fairly low but it can take a reverse turn if the price falls to $148 level.

For sure , any level above $152 is an optimistic zone that can jostle the price upwards and if it manages to maintain the $155 level then the $160 level will not take much time.

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About Steve Anderrson

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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