Key Highlights
Ether price somehow managed to stay above the $10.50 support recently against the US Dollar.
There are a couple of bearish trend lines formed on the 2-hour chart of ETH/USD with resistances near $10.60 and $10.65.
On the downside, the $10.50-10.45 area is holding further losses

Technically, the 2-hour chart indicators are bearish, but slowly getting stable.

How Long Ether Price Can Range Trade?

There was a slow and steady downtrend in Ether price recently against the US dollar, and yesterday there was a close below the $10.60 support area well.

Ethereum ETH/USD Forecast

Later, there were two attempts to break the $10.50 support area, but there was no proper close below the stated support area. As a result, the price is now back above the stated level.

When we look at the 2-hour chart of ETH/USD, there is a clear support formation at $10.50-10.45. It is acting as a barrier for Ether price, and preventing further losses. The stated levels are just above the 61.8% Fibonacci retracement level of the last wave from the $10.17 low to $11.00 high.

So, it looks like the mentioned area is holding well, but remains at a risk of breakdown. On the upside, there are a few points to note. First, there are two bearish trend lines, which may continue to act as a hurdle at $10.60 and $10.65.

Second, if there is a close above the $10.65 level, there is a chance of more gains in ETH/USD. Lastly, the trend lines are acting as a crucial resistance, and it won’t be easy for the price to close above it.

Ether Price Analysis Chart

So, we can say that the price is stuck in a tight range, and may soon head higher or lower. The 30-min chart of ETH/USD is showing a few positive signs.

It shows that the price is currently holding the $10.50 support and may soon break the highlighted bearish trend line at $10.58-10.60.

Important Resistance Levels

$10.60 and $10.65

Important Support Levels

$10.50 and $10.45

2-hour RSI

The RSI technical indicator is well below the 50 level, but slowly turning north.

2-hour MACD

The MACD is in the bearish zone, but slowing stabilizing.
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Ether Technical Analysis

07-26-2017 ETH/USD Forecast: Ether Plunge Into Support
01-27-2017 ETH/USD Struggles Into Bottom of Support Zone
01-26-2017 Ether Price Confined To Tight Range
01-25-2017 ETH/USD Pressuring Support, Remains At Risk

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