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 ---
--%
Saturday Sep 22nd 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: ETH/USD Making Progress But Not Out of Woods Yet

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price recovery has been stagnant against the US dollar. ETH/USD could trade in a range in the short term with a crucial support at $750.00.

Key Highlights

Ether corrected higher above the $900.00 level before facing sellers near $970.00 against the US dollar.
There is a major bearish trendline forming with resistance at $900.00 on the 2-hour chart of ETH/USD.
ETH/BTC has started a downside correction as it recently moved below the 0.1050BTC support.

Technically, the 2-hour chart indicators failed to move into bullish territory and seem to be moving lower.

Ether Price Recovery is Fading

Yesterday, we saw how ETH/USD formed a key short-term bottom around the $750.00 level. It recovered above the $900.00 level, but it failed to maintain a positive bias.

On the other hand, ETH/BTC started a downside correction, recently trading below the 0.1050BTC support. The next major support on the downside sits at 0.1000BTC.

Ethereum Price ETH/USD Forecast

Starting with the 4-hour chart of ETH/USD, there was a break below two important bullish trendlines with supports at $1,100.00 and $1,065.00. It opened the doors for a significant downside move and the pair traded below the $800.00 level.

A key short-term bottom was formed at $745.78. Later, an upside correction was initiated toward the $950.00-1,000.00 zone. The pair struggled to remain above the 38.2 percent Fibonacci retracement level of the last decline from the $1,238.92 high to $745.78 low.

Ether is currently hovering near $900.00, but could head toward $850.00 if momentum continues to stall. If the price declines below that mark it may test the $800.00-820.00 support area. Below $800, the price could retest the $750.00 support, which holds a lot of importance in the near term.

Ether Price Analysis Chart

Moving on to the hourly chart of ETH/USD, there is a bearish trendline forming with resistance at $900.00. The pair must move above the trendline resistance to gain upside momentum and start a fresh recovery.

In the short-term, Ether may perhaps trade in the $800.00-900.00 range before it makes the next move either above $900.00 or toward $750.00.

Hourly MACD

The MACD is gaining pace in the bearish zone.

Hourly RSI

The RSI is moving south and is currently near 35.

Important Support Levels

$850.00 and $800.00

Important Resistance Levels

$900.00 and $1,000.00

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.