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Ether Price Analysis
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Ethereum Price Forecast: Ether in Crucial Uptrend





Ether traded above an important resistance against the US dollar. ETH/USD is now placed nicely in a crucial uptrend with supports at $850.00 and $800.00.

Key Highlights

Ether extended gains and succeeded in breaking an important resistance at $840.00-850.00 against the US dollar.
There is a bearish trendline forming with resistance near $900.00-920.00 on the 4-hour chart of ETH/USD.
ETH/BTC is consolidating above the 0.1000BTC support and it could gain momentum.

Technically, the 4-hour chart indicators are rising higher into the bullish territory.

Ether's Price Remains Supported on the Downside

Yesterday, we discussed how ETH/USD is poised to challenge the $900.00 level. The pair did move higher, broke the $840.00-850.00 resistance, and is testing the $900.00 region.

On the other hand, there was no major move in ETH/BTC. The pair is currently consolidating above the 0.1000BTC level and is preparing for the next move.

Ether Price Analysis Chart

Looking at the hourly chart of ETH/USD, the pair surged higher and broke a few important resistance levels: $830.00, $840.00 and $850.00. It opened the doors for more gains and the pair surged to $900.00.

It seems like the pair is forming a crucial uptrend and it could continue to move higher toward $1,000.00. On the downside, an initial support is a bullish trendline on the same chart at $880.00. Below $880.00, the previous resistance at $850.00 would be likely to act as a strong support.

Ethereum Price ETH/USD Forecast

Moving up to the 4-hour chart of ETH/USD, there is a major bearish trendline forming with resistance near $900.00-920.00. The $900.00 level is acting as a key resistance, since it is the 50 percent Fibonacci retracement level of the last major drop from the $1,238.92 high to $564.11 low.

A 4-hour close above the mentioned $900.00 resistance could trigger further upsides toward $1,000.00. In the short-term, there may be ranging moves around the $900.00-920.00 level, but the medium-term bias is bullish.

Important Resistance Levels

$900.00 and $920.00

Important Support Levels

$850.00 and $800.00

Hourly RSI

The RSI is currently above 65 and is heading higher.

Hourly MACD

The MACD is showing a lot of bullish signs.

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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