ETHERLive
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 ---
--%
Friday Apr 20th 2018
RESOURCES

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
SUBMIT

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

Explanation

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

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Ethereum Price Forecast: Ether Consolidating Gains

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether traded with a positive sentiment against the US dollar and bitcoin. ETH/USD is currently correcting lower but it remains supported on the downside.

Key Highlights

Ether extended gains and traded above the $1,200.00 resistance against the US dollar before starting a correction.
There is a bullish trendline forming with support at $1,150.00-1,160.00 on the 2-hour chart of ETH/USD.
ETH/BTC broke a crucial resistance at 0.1000BTC to set the pace for more gains.

Technically, the 2-hour chart indicators are correcting lower in the bullish territory.

Ether's Price is Testing a Key Support

In the weekly forecast, we discussed ETH/USD's move above the $1,200.00 level. The pair did gain traction and it was able to surpass the $1,180.00 and $1,200.00 resistances.

More importantly, there was a solid upside move in ETH/BTC. As a result, the pair was able to trade above the 0.1000BTC resistance level. It opened the doors for more upsides and pushed the pair past 0.1050BTC.

Ethereum Price ETH/USD Forecast

It seems like Ether buyers are in control and, looking at the 2-hour chart of ETH/USD, the pair is in a clear uptrend. It recently traded as high as $1,238.92 before starting a downside correction.

It traded below the 23.6 percent Fibonacci retracement level of the last upside wave from the $986.85 low to $1,238.92 high. However, the downside move was protected by a major bullish trendline with support at $1,150.00-1,160.00 on the same chart.

Below the trendline, the previous resistance at $1,100.00 could act as a strong support. Looking at the 30-minute chart of ETH/USD, the pair seems to be well supported above the $1,150.00 level.

Ether Price Analysis Chart

On the upside, there were two rejections around the $1,235.00 level, a break above which is needed for further gains.

Overall, the current price structure is positive as long as ETH/USD is above $1,100.00. In the short-term, the pair may range between $1,100.00-1,230.00 before Ether’s price makes the next move.

Important Resistance Levels

$1,200.00 and $1,235.00

Important Support Levels

$1,150.00 and $1,100.00

2-hour RSI

The RSI is correcting lower toward the 50 level.

2-hour MACD

The MACD is currently reducing its bullish slope.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets

ETHNews is commited to its Editorial Policy

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

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.