Technically, there is a shift in the market sentiment, and indicators remain entrenched into the positive territory.

ETH/USD Turned Bullish?

Yesterday, I highlighted how Ether price is struggling to trade above the $11.20 resistance against the US Dollar. The ETH/USD pair was mostly seen trading in a range until there was an increase in buyers’ sentiment, which ignited an upside move.

The pair moved higher and during the ride broke the $11.20 resistance. No doubt, the recent break was crucial, and if the Ether bulls succeed in a daily close above the stated level, there is a possibility of further gains in the short term.

Ethereum ETH Ether Price Analysis Chart

If the price corrects lower from the current levels, then the 23.6% Fib retracement level of the last wave from the $10.20 low to the recent high may act as a support area. However, the most important support zone could be at $11.20. It was a resistance earlier, and now might act as a barrier for sellers.

If we look at the 4-hours chart of the ETH/USD pair, there is an intermediate resistance at $11.60-80 since the 100 simple moving average is aligned as a hurdle. So, there is a chance of a minor dip before the price can regain strength for another ride.

In my view, the recent moves in ETH/USD are convincing and pointing towards more strength. On the downside, the $11.20 may now play a critical role going forward.

Important Resistance Levels
$11.60 and $11.80
Important Support Levels
$11.20 and $11.00
Hourly RSI
The RSI technical indicator is around the overbought levels, calling for a minor correction.
Hourly MACD
The MACD is currently bullish, and showing a lot of positive signs.
The content on is provided for informational purposes only and it is not intended to be, and does not, constitute financial advice or any other advice. You should not rely on any content to make an investment decision. is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.

Ether Technical Analysis

10-26-2016 ETH/USD Rally Remains Attractive To Sellers
08-10-2016 Ether Buyers Emerge Winners, $13.00 On The Cards?
08-09-2016 Ether Price Breaking Higher, More Gains Ahead
08-08-2016 Ether Buyers Facing Continuous Offers Near $11.00-11.20

Subscribe to our Newsletter

* indicates required
Email Address *
First Name
Last Name
News Categories of Interest