Crypto Technicals: ETH/USD shows credible signs of recovery, eyes next major hurdle at 55-EMA (144.57)

ETH/USD chart - Trading View

Exchange - Coinbase

Support: 133.57 (21-EMA); Resistance: 144.57 (55-EMA)

Technical Analysis: Bias Bullish

ETH/USD is extending break above 21-EMA, scope for further upside.

The pair was trading 3.16% higher on the day at 139.52 at 04:55 GMT, after closing 0.87% higher in the previous session.

On the weekly charts the pair has resumed upside after 'Hammer' and back-to-back 'Dragonfly Doji' formations.

Technical indicators have turned bullish and support further gains. Stochs and RSI are biased higher. Volatility is also rising.

Price action is extending break above 4H 200 MA, is on track to test next major hurdle at 55-EMA at 144.57.

Break above cloud will shift major bias to bullish. Retrace below 21-EMA will negate upside bias.

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