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 ---
--%
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 Comeback Could Be In The Cards

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price found support after yesterday’s slide against the US dollar and bitcoin. ETH/USD could correct higher, but the $110.00 resistance will most likely prevent gains.

Key Highlights

Ether’s price managed to stay above the $105.00 support and recovered against the US dollar.
A connecting bearish trendline was breached near $105.80 on the 30-minute chart of ETH/USD.
ETH/BTC is consolidating below the 0.0310BTC and 0.0312BTC resistance levels.

Technically, the 2-hour chart indicators are slowly recovering higher in bearish territory.

Ether Price Analysis

Yesterday, there was a bearish reaction below the $108.00 support in ETH/USD. The pair even broke the $106.00 support, but it quickly bounced back above the $105.00 pivot level to start a short-term rebound.

ETH/BTC declined further and tested the 0.0305BTC support, where buyers emerged. The pair corrected higher and is currently consolidating below the 0.0310BTC and 0.0312BTC resistance levels.

Ethereum Price Analysis ETH

Looking at the 2-hour chart of ETH/USD, the pair declined below a major bullish trendline at $107.50. It opened the doors for more losses, and the price tumbled below the $106.00 support. However, there was a strong buying interest near $105.00 and the price bounced back.

Ether is currently trading with a bullish angle above the $106.00 level. However, there are many hurdles on the upside, starting with $108.00 and the 50 percent Fibonacci retracement level of the recent decline from the $110.02 high to $104.08 low.

The most important resistance is near $110.00-111.00, above which buyers are likely to gain bullish momentum. The 30-minute chart of ETH/USD suggests that the pair surpassed a connecting bearish trendline at $105.80 plus the $106.00 resistance (the previous support).

Ether Price Analysis Chart

Should there be a downside correction, the price could find support near the $106.00 level. Having said that, if Ether sellers remain in action, there could be a break below $105.00 and the $104.08 low.

The current technical structure is positive on the 30-minute chart as long as Ether stays above the $105.00 support. To the topside, a convincing break above $108.00 and $110.00 is required for a decent rebound in the coming sessions. 

Important Resistance Levels

$108.00 and $110.00

Important Support Levels

$106.00 and $105.00

2-hour RSI

The RSI is slowly moving higher toward the 40 level.

2-hour MACD

The MACD is currently reducing its bearish slope.

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 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.