ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

ETH/USD Pressured By Bitcoin’s Decline





Ether price failed to surpass the $10.60 resistance vs the US Dollar

Key Highlights

Ether price today made a sharp downside move from $10.60 to $10.20 against the US Dollar.
It was mainly due to pressure created by declining Bitcoin price after China’s central bank launched an investigation.
Most cryptocurrencies were under pressure, including ETH and ETC.

Technically, the 2-hour chart indicators started turning bearish, but waiting for a catalyst.

Ether Price Slides Vs Dollar

The ETH/USD pair was seen consolidating in a tiny range around $10.60 earlier today until there was news about the People's Bank of Shanghai headquarters, the Shanghai Municipal Finance Office launching an investigation to carry out on-site inspection of Bitcoin.

It caused a slide in Bitcoin price, which pressured other cryptocurrencies like ETH and ETC as well. Ether price was already struggling to clear the $10.60 resistance against the US dollar, and this gave sellers reason to push the price down.

Ether Price Analysis Chart

There was a sharp downside move in ETH/USD, as the pair moved towards the $10.10-10.00 support zone. During the downside move, the pair broke a bullish trend line on the 30-min chart at $10.55.

Moreover, there was a break below the 50% Fibonacci retracement level of the last leg up from the $10.10 low to $10.68 high. The pair nosedived and almost tested the last swing low of $10.10, and currently attempting to hold the downside.

The 2-hour chart suggest that the price is trading near a major support. Now, we all know how important the $10.00 support is, but there is also a trend line on the H2 chart, acting as a support.

Ethereum ETH/USD Forecast Chart

It looks like there is a contracting triangle pattern forming, which may provide us the next break in the short term. The last candle on the chart is bearish, and suggesting a strong selling pressure.

The pair needs to hold the trend line support, else there can be a major downside break. On the other hand, the price may recover from the $10.10 support area if the trend line support prevents a break.

Important Resistance Levels

$10.40 and $10.60

Important Support Levels

$10.10 and $10.00

2-hour RSI

The RSI technical indicator is just above the 50 level, suggesting the price may either bounce or continue lower.

2-hour MACD

The MACD is about to negate the bullish slope, which is a bearish sign.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Analysis and Ethereum Analysis News.

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.