Technically, the 2 hours chart suggests a sideline pattern with support at $10.50 and resistance at $11.50.

Ether Price Range Trading

Ether price continued to find bids against the US Dollar during the past few sessions, but the upside was limited. The ETH buyers failed on many occasions to break the $11.40-50 resistance.

Ether Price Analysis Technical Chart

Similarly, on the downside, the $10.80-50 levels are acting as a strong support zone. When we have a look at the 30 mins chart of ETH/USD, then it clearly shows that the pair is trading in a range pattern. The range resistance is at $11.50, and the range support (lower) is at $10.50.

The price may continue to trade in the stated range for some more time, but eventually it has to break on either side. We just need to be on the right side when there is a break. In my view, the chances of a move higher are more, since the market sentiment is positive for the Ether.

ETH to USD Chart Analysis

Even the 2 hours chart of ETH/USD is signaling a sideline pattern with the same range support and resistance levels. However, there is a contracting triangle pattern forming as well along with the range pattern.

I think investors are waiting for a catalyst or new for the next move. The longer the price consolidates, the stronger will be the next move in my opinion. One must trade carefully such breaks to avoid losses.

Important Resistance Levels
$11.20 and $11.50
Important Support Levels
$11.00 and $10.80
2-hours RSI
The RSI technical indicator is just around the 50 level, and waiting for momentum.
2-hours MACD
The MACD is almost flat signaling a consolidation pattern.
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Ether Technical Analysis

Today ETH/USD Weekly Forecast – Bearish Sentiment Leads
08-31-2016 Ether Price Attempting To Break Range Resistance
08-30-2016 Ether Price Back In Range Post Short-Lived Bounce
08-29-2016 ETH/USD Likely To Bounce Back From Recent Losses

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