Technically, the indicators are completely flat, suggesting a long term consolidation pattern.

Ether Price Trading In Range

It looks like Ether does not want to make any move, as the price kept trading in a range against the US dollar. On the downside, the $10.70-80 area is acting as range support, and on the upside, the all-important $11.25 remains intact as a resistance.

Ether Price Analysis Chart

The stated range pattern is clearly visible on the 30-min chart of ETH/USD with a few false spikes, which can be ignored. The pair kept moving inside the highlighted range and made no major move. It looks like Ether is waiting for a catalyst to make the next move.

When looking at the charts and indicators very carefully, the last 10 hours or so were negative for Ether price. There is a slight increase in the bearish momentum. We need to see whether the price can break the range support to trade further lower.

Ethereum ETHUSD Forecast Chart

The 2-hours chart of ETH/USD is suggesting a breakout. The range is contracting in the form of a triangle. On the downside, there is an ascending trend line, so, we can say that the support is moving higher, and resistance is fixed.

Generally, such patterns pave way for an upside move once completed. However, there is so much going on in the market right now that it’s very hard to discard a downside break. If there is even a slight bad news/rumor, it may ignite a sharp move in ETH/USD.

Important Resistance Levels
$11.25 and $11.40
Important Support Levels
$10.80 and $10.70
2-hours RSI
The RSI technical indicator is just above the 50 level, and waiting for buyers to step in.
2-hours MACD
The MACD is slowly attempting to move into the bullish zone, which is a positive sign.
Disclaimer:
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 Ether Price Continues To Tumble
11-08-2016 ETH/USD: A Look at the Daily Chart
11-07-2016 ETH/USD Sub-$11.00 Battle Ongoing
11-06-2016 ETH/USD Weekly Forecast: Ether Consolidating Losses
   

Subscribe to our Newsletter

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