Key Highlights
Ether price formed a bottom near $10.50 against the US Dollar, and moved back towards $10.85.
The ETH/USD pair is currently trading with a bullish bias, and attempting a break above the $10.85-10.90 resistance.
The 4-hour chart suggests that there is an expanding triangle pattern, and the pair is attempting a break above it.

Technically, the 4-hour chart indicators are placed well and may extend moves in the bullish territory.

Ether Price to Retest $11.00?

In yesterday’s analysis, we saw how Ether price found support near $10.50 against the US Dollar. There were chances of a bounce since it was holding well. The price did move higher later, and managed to retest the $10.85 resistance.

Ether Price Analysis Chart

There was a nice upside move in ETH/USD, as the pair succeeded in forming a new intraday high at $10.90. At the moment, the price is just hovering near $10.80, and looking for a close above the stated level.

If there is an hourly close, and the pair maintains the momentum, there is a chance of a ride towards $11.00, which represents the previous swing high.

We can clearly see observing at the hourly chart of ETH/USD that the pair is trading with a positive tone, and looking to settle above the $10.80-10.85 resistance. If the pair fails to move higher, there are many support levels on the downside.

An initial support is around a bullish trend line on the hourly chart at $10.70. It is also around the 38.2% Fibonacci retracement level of the last leg from the $10.51 low to $10.90 high.

Ethereum ETH/USD Forecast

The 4-hour chart of ETH/USD suggests that the pair is heading towards a breakout level. There is an expanding triangle pattern formed, and the pair is currently attempting to break its resistance.

If Ether price succeeds in breaking it, there can be a move towards $11.00. On the other hand, a failure may push it back towards the triangle support at $10.60.

Important Resistance Levels

$10.85 and $11.00

Important Support Levels

$10.70 and $10.60

Hourly RSI

The RSI technical indicator is above the 50 level and moving higher.

Hourly MACD

The MACD is comfortably placed in the bullish slope.
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Ether Technical Analysis

Today ETH/USD Forecast: Consolidating Above $200
02-04-2017 ETH/USD Major Breakout Above $11.00
02-03-2017 ETH/USD Nearing Make-or-Break Levels
02-02-2017 Can ETH/USD Hold $10.50 Support?

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