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Ether Price Analysis
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Ethereum Price Forecast: Ether's Bullish Pressure Continues





ETH/USD remains elevated in the bullish zone above $750.00 against the US dollar. The pair could soon break $820.00-850.00 and move higher still.

Key Highlights

Ether continues to gain bullish momentum and is currently trading above key supports against the US dollar.
ETH/USD is currently attempting an upside break above a bearish trendline at $820.00 on the 4-hour chart.
ETH/BTC is correcting lower toward the 0.0950BTC support area.

Technically, the 4-hour chart indicators are about to move above their neutral levels into the bullish territory.

Ether to Gain Momentum?

There were mostly bullish moves in ETH/USD during the past three sessions. The pair corrected a few points but remained well bid around the $800.00 support area.

On the other hand, ETH/BTC has started a downward correction below 0.1000BTC. The pair is moving lower toward the 0.0905BTC support, which is a decent buy zone.

Ethereum Price ETH/USD Forecast

Looking at the 4-hour chart of ETH/USD, the pair formed a base near $550.00 and started an upward move. It broke the 23.6 percent Fibonacci retracement level of the last crucial decline from the $1,238.92 high to $564.11 low.

Ether buyers were successful in pushing the price above the $750.00 and $800.00 resistance levels. At present, the pair is attempting a break above a bearish trendline at $820.00 on the same chart.

Should there be a 4-hour close above $820.00, the price could continue to climb toward the next bearish trendline with current resistance at $960.00. An intermediate resistance is $900.00 and the 50 percent Fibonacci retracement level of the previously mentioned decline.

Ether Price Analysis Chart

Moving down to the 30-minute chart of ETH/USD, the pair is facing a resistance near $830.00-$850.00. A successful close above these levels could open the doors for a push toward $900.00 and $960.00.

While there's an initial support at $800.00, the most important support sits at $750.00. The overall bias is bullish and Ether will most likely continue to move higher. 

Important Resistance Levels

$850.00 and $900.00

Important Support Levels

$800.00 and $750.00

4-hour RSI

The RSI is about to move past the 50 level.

4-hour MACD

The MACD has moved into 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. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

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