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 in Short-term Downtrend

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether extended declines below $1,100.00 against the US dollar while gaining further versus bitcoin. ETH/USD is currently showing signs of short-term weakness.

Key Highlights

Ether failed to hold important supports and traded toward the $1,000.00 level against the US dollar.
ETH/USD broke a crucial bullish trendline with support at $1,100.00 on the 4-hour chart.
ETH/BTC climbed higher since bitcoin price was pressured recently.

Technically, the 4-hour chart indicators moved into the bearish territory, signaling an increase in selling pressure.

Can Ether's Price Hold $1,000?

Yesterday, we saw the start of a downside wave in ETH/USD with an important support near $1,080.00-1,100.00. The pair failed to stay above the mentioned support and declined toward the $1,000.00 level.

In contrast, ETH/BTC extended gains and broke the 0.1080BTC resistance to trade above 0.1100BTC. It seems like bitcoin price is under pressure versus the US dollar, helping ETH/BTC in gaining bullish traction.

Ethereum Price ETH/USD Forecast

Looking at the hourly chart of ETH/USD, the pair declined sharply and traded as low as $1,020.73. Later, it started an upside correction and broke a connecting bearish trendline with resistance at $1,070.00.

However, there are many hurdles on the upside such as $1,120.00 and $1,150.00. An intermediate resistance is around $1,130.00 and the 50 percent Fibonacci retracement level of the recent decline from the $1,238.92 high to $1,020.73 low.

On the downside, there is a short-term bullish trendline forming with support at $1,090.00. An hourly close below the mentioned $1,090.00 support could trigger a fresh downside wave.

Ethereum Price ETH/USD

Moving up to the 4-hour chart of ETH/USD, there is a clear downside break below a crucial bullish trendline with support at $1,100.00. The pair is currently moving higher, but it could face a significant resistance near $1,120.00 and a bearish trendline on the same chart.

To sum up, it seems like the recent break may perhaps pressurize Ether’s price in the short term. However, there is a key support on the downside around $1,000.00, which will most likely act as a barrier to further declines. As long as ETH/USD is above $1,000.00, it may consolidate and then recover.

Important Resistance Levels

$1,120.00 and $1,150.00

Important Support Levels

$1,020.00 and $1,000.00

4-hour RSI

The RSI is moving up toward the 50 level.

4-hour MACD

The MACD is currently in the bearish zone, but with a lack of momentum.

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.