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: ETH/USD Rallies Above Key Resistance

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price surged higher and broke the $800.00 resistance against the US dollar. ETH/USD is showing a lot of positive signs and it could continue to rise.

Key Highlights

Ether recovered further and broke the $750.00 and $800.00 resistance levels against the US dollar.
ETH/USD gained bullish momentum and surpassed a major bearish trendline at $800.00 on the 2-hour chart.
ETH/BTC is trading near the 0.1000BTC support and is currently in a positive zone.

Technically, the 2-hour chart indicators are gaining momentum in the bullish territory.

Ether's Price is Back in the Bullish Zone

The past few sessions were quite bullish as ETH/USD rallied and broke two important resistances – $750.00 and $800.00. The pair is currently positioned nicely above $800.00 and is eyeing further gains.

There was no major move in ETH/BTC since bitcoin price also surged higher against the US dollar. However, the pair remains positive above the 0.1000BTC support.

Ethereum Price ETH/USD Forecast

Starting with the 2-hour chart of ETH/USD, there were solid bullish candles formed between $600.00 and $700.00. It resulted in an upward push and the pair broke a major bearish trendline at $800.00.

The move was strong since Ether’s price traded above the 38.2 percent Fibonacci retracement level of the last major drop from the $1,151.90 high to $564.11 low. It seems like the recent break above $800.00 has opened the doors for further gains toward $900.00 or even $1,000.00.

An immediate resistance is the 50 percent Fibonacci retracement level of the last major drop from the $1,151.90 high to $564.11 low around $860.00. Above $860.00, the price will most likely move past the $900.00 level.

Ether Price Analysis Chart

Dropping down to the 30-minute chart of ETH/USD, there is a bullish trendline forming with support at $800.00. The mentioned $800.00 level prevented gains earlier but is now a key support. Below $800.00, the next major support is at $750.00.

Overall, the current price action is bullish. Should there be a short-term correction, ETH/USD could find strong supports near $800.00 and $750.00. A push above $860.00 is needed for further gains. 

Important Resistance Levels

$860.00 and $900.00

Important Support Levels

$800.00 and $750.00

2-hour RSI

The RSI is moving higher toward the 65 level.

2-hour MACD

The MACD is back in the bullish zone and is gaining 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.