Black Friday Rally to $170 for Ether?

Bitcoin's inability to stay above $7,600 and possibly muted trading from United States' traders enjoying the Thanksgiving holiday has meant Ether spent the last 24-hours trading between $150.75 to $153.68.

In the current scenario, aggressive traders will view the MACD line rising toward the signal line as an early indicator of purchasing interest returning to Ether.

Little resistance after $155. As shown by the 6-hour timeframe, Ether price is pinched between the 12 and 26-point exponential moving average with support at $150. Ether's rapid decline on Nov. 25 pulled the price below a number of supports that have previously served as reliable bounce points.

If Ether can pull above the volume profile visible range node at $155.27, there is little overhead selling pressure until $171.30 and $173.85.

In the event that the price takes this route, Ether would still need to overcome $160.33 and $166.22 if these former supports have turned into resistance levels.

Ether price has again popped above the long-term descending trendline from the 2019 high at $364, which is another possibly positive signal for Ether.

If Ether price were to drop below the $150 support, the price could drop to the Bollinger Band moving average at $148. Below $144, the price could drop back to the swing low at $131.69.ETH/BTC is boring but trying to breakout.

Ether price is currently hovering above the 0.020383 satoshis support.

Ultimately, Ether price needs to clear the high volume node at 0.022380 in order to set a higher high and move to overtake the 200-DMA. ETH BTC daily chart.

Traders should look for an increase in volume on either pairing and watch to see if Ether breaks above the descending trendline on the ETH/BTC pair.