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Ether Price Analysis
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Ethereum Price Forecast: Ether Poised for Further Gains





Ether is looking to gain upward momentum against the US dollar and bitcoin. ETH/USD could continue to move higher and challenge $900.00.

Key Highlights

Ether is showing signs of further growth above $850.00 against the US dollar.
ETH/USD is currently consolidating around a crucial pivot zone near $820.00-840.00 on the 6-hour chart.
ETH/BTC is back above the 0.1000BTC level and is gaining momentum.

Technically, the 2-hour chart indicators are placed nicely in the bullish territory.

Ether's Uptrend is Intact

Yesterday, we discussed that ETH/USD is trading in the bullish zone above the $750.00 and $800.00 support levels. The pair remained above these supports and it seems like it will soon gain momentum.

Ethereum Price ETH/USD Forecast

More importantly, ETH/BTC completed a short-term correction and moved back above the 0.1000BTC level. The pair will most likely continue to move higher as long as the 0.0980BTC support is intact.

Starting with the 6-hour chart of ETH/USD, the pair formed a solid bullish pattern at $564.11 and began an upward move. At present, it is trading near a crucial pivot zone at $820.00-860.00.

The next important resistance is the 50 percent Fibonacci retracement level of the last major drop from the $1,238.92 high to $564.11 low at $900.00.

However, a daily close above $840.00 would be a great bullish sign and Ether’s price may go on to target the $1,000.00 barrier on the upside. Dropping down to the 2-hour chart of ETH/USD, it seems like the pair is closing above a bearish trendline with resistance at $810.00.

Ether Price Analysis Chart

If the price starts a downward correction, it would likely find a strong support at $800.00. Below the mentioned $800.00, the price could retest the $750.00 support zone.

Overall, the price action is positive and it's expected that ETH/USD will push above $840.00 and $860.00 in the near term. Important supports on the downside are $800.00 and $750.00. 

Important Resistance Levels

$840.00 and $900.00

Important Support Levels

$800.00 and $750.00

2-hour RSI

The RSI is above 50 and is currently moving higher toward 70.

2-hour MACD

The MACD is gaining momentum in the bullish zone.

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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