Technically, the 4-hours chart is calling for an upside break above $13.00 as technical indicators are heading north.

ETH/USD Remains Buy Dips?

We saw a rise in Ether price during the past two days not only against the USD, but also versus the BTC. There was a nice uptrend initiated, which continued during the recent sessions as well. The price at the moment trading with a bullish bias, and looks set for more gains.

Ether Price Analysis Technical Chart

Looking backwards, there was a minor downside move in ETH/USD from the $13.00 high to $12.40. It can be considered as a correction phase, which helped the ETH bulls to step in once again. There was a solid buying interest noted at $12.40, and the pair bounced back.

There is a now a couple of important trend lines formed on the hourly chart of ETH/USD. First, there is a bullish trend line, which acted as a support recently. Second, there is a minor resistance trend line on the upside, which must be cleared for a move towards $13.00 once again.

Ethereum ETH/USD Pair Analysis

It looks like there is a crucial support formed at $12.60, which may act as a barrier for sellers if the price moves down from the current levels. So, if the pair dips, one may consider buying with a stop below the trend line support.

The 4-hours chart of ETH/USD also highlights a major support area on the downside. Also, the recent candles are pretty bullish and signaling a break of $13.00 for a new weekly high.

Important Resistance Levels
$12.90 and $13.00
Important Support Levels
$12.60 and $12.40
Hourly RSI
The RSI technical indicator is also well above the 50 level.
Hourly MACD
The MACD is strongly placed in the bullish zone and pointing towards more upsides.
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The content on ETHNews.com 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 ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.

Ether Technical Analysis

Today ETH/USD Declining Streak Likely To Continue
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09-19-2016 Ether Price Approaching New High?
09-18-2016 ETH/USD Weekly Forecast – Uptrend Initiated
   

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