Ethereum Price Update: ETH/USD defends $140 support yet again

Ethereum narrows towards $140 support as the upside remains impenetrable.
The descending trendline resistance must come down to clear the path towards $150.

John Isige FXStreet

Ethereum is largely unchanged compared to the levels towards the end of last week. The pressure oozing from the bears continued across the weekend session. Besides action beyond $145 remained limited. On the other hand, sellers forced ETH/USD against the critical support at $140 with an aim of seeing Ethereum back to November lows at $138.48.

In the meantime, Ethereum is trading at $141 amid a growing bearish momentum. Although $140 seems to have high buyer congestion, ETH remains in grave danger of dropping to levels close to $130.

On the upside, the descending trendline is the nearest resistance and must be broken in order to pave the way for gains above $150. Other key hurdles to keep in mind include the 50 SMA on the 4-hour chart at $145 and the 100 SMA at $147.50.

ETH/USD 4-hour chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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