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Ether Price Analysis
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Ethereum Price Forecast: Ether Continues to Gain





Ether remains well bid against the US dollar and bitcoin. ETH/USD is consolidating above the $1,050.00 level and it seems to be preparing for further upsides.

Key Highlights

Ether is showing positive signs with a 2-hour close above the $1,000.00 level against the US dollar.
ETH/USD is trading above a major bearish trendline with resistance at $1,020.00 on the 2-hour chart.
ETH/BTC is consolidating above the 0.0900BTC level and is preparing for the next move.

Technically, the 12-hour chart indicators are slowly moving higher in the bearish territory toward the midlines.

Will Ether's Price Gain Upside Traction?

There were mostly ranging moves in ETH/USD above the $1,000.00 level during the past two sessions. The pair is trading with a positive bias and it seems to be preparing for further gains.

ETH/BTC is also positioned nicely in the bullish zone above the 0.0900BTC level. The pair could soon attempt an upside break above the all-important 0.1000BTC resistance.

Ethereum Price ETH/USD Chart

Starting with the 12-hour chart of ETH/USD, the last major drop was protected by a crucial support area near $750.00. The pair recovered nicely and moved back above the $1,000.00 level.

More importantly, there was no close below a connecting bullish trendline with current support at $860.00. An intermediate support sits at $950.00. The last four candles are showing positive signs and it seems like the pair may continue to move higher.

Moving on to the 2-hour chart of ETH/USD, the pair is trading above a major bearish trendline with resistance at $1,020.00. An immediate resistance on the upside is at $1,100.00. Should there be a break and 2-hour close above $1,100.00, there could be a push toward the $1,200.00 resistance.

Ether Price Analysis Chart

On the downside, an initial support is at $1,000.00. Below $1,000.00, the 12-hour chart bullish trendline with support at $860.00 may perhaps be tested.

The current price action is positive as long as Ether’s price is above $1,000.00. To the topside, a test of $1,200.00 is possible in the near term. 

Important Resistance Levels

$1,100.00 and $1,200.00

Important Support Levels

$1,000.00 and $950.00

12-Hour RSI

The RSI is slowly moving higher toward the 50 level.

12-hour MACD

The MACD is about to move into the bullish zone.

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.

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