ETH Price Analysis – Near Critical Point

ETH Price has reached near its critical stage where anything can happen. Currently trading at 146$, it seems like a symmetrical triangle is forming. If in the following sessions, ETH price breakout from the lower trendline i.e. near 143$ followed by large trading volume (sell orders), the bears will continue to gain strength and try to pull further down to support level at 138$ and 134$.

Based on hourly technical indicators, short-term MA (25 hours) seems to cross below the long-term MA (100 hours). Therefore, if the gap between MA (25,100) continues to widen with 100 MA (red line) above 25 MA (green line), it would confirm that sell pressure is building-up and that the trend is most likely to shift downwards. 

On the other hand, if bulls defend the critical support near 143$ and break above the resistance level 150$, we may see a rally to new highs with the target at 160$. As per the hourly MACD indicator, it does not seem to be impacted and if prices stay above the short-term moving average (25 hours green line), bulls are still in control.