ETH/USD settles above $140.00, indicators imply further recovery

• ETH/USD has experienced a strong rally that improved its technical picture.
• The next bullish target is created by psychological $150.00.

ETH/USD hit the intraday high at $144.04 before retreating to $142.60. The-second largest digital asset is moving within a strong bullish trend on intraday charts, in sync with the market. On a day-to-day basis, ETH has gained over 15%. The bullish sentiments helped the coin to move outside the Bollinger Band on the 1-hour chart, which means the correction may be around the corner.

ETH/USD: Technical picture

One-hour RSI points upwards, which means that the coin retains the upside potential; however, investors should be careful as the indicator is close to overbought levels. The next bullish target comes at the intraday high of $144.04. It is followed by psychological $150.00 and $153.30 ( March 20 high). Once it is out of the way, the upside momentum is likely to gain traction with the next focus on $157.50 ( the middle line of the daily Bollinger Band) and $160.00.

On the downside, the critical support is created by SMA100 1-hour at $132.20. If it is sustainably broken, the sell-off may gain traction and push the price towards SMA50 1-hour at $1.2950 and $125.50 (SMA200 1-hour)

ETH/USD 1-hour chart