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Ether Price Analysis
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Ethereum Price Forecast: Ether’s Rally to Extend Further





Ether’s price is poised to extend gains against the US dollar. ETH/USD could test the $1,000.00 level whereas ETH/BTC may perhaps break 0.0900BTC.

Key Highlights

Ether is gaining bullish momentum as it recently broke a major resistance at $950.00 against the US dollar.
There was a break above a contracting triangle with resistance at $940.00 on the hourly chart of ETH/USD.
ETH/BTC is under pressure and it is heading towards a crucial support at 0.0900BTC.

Technically, the hourly chart indicators are gaining upside momentum in the bullish territory.

ETH/USD to Retest $1,000?

There were further upsides in ETH/USD during the past few hours as the pair succeeded in moving past a pivotal resistance area near $950.00.

On the Bitcoin front, there was a sharp increase in selling pressure on ETH/BTC. The main reason was upsides in bitcoin, which could push the pair further lower toward the 0.0900BTC support level.

Ether Price Analysis Chart

On a positive note, the hourly chart of ETH/USD suggests that the pair broke a major resistance near $945.00-950.00. It also succeeded in breaking a contracting triangle with resistance at $940.00.

The price moved above the $960.00 level and formed a high at $965.94. The past few candles are very bullish, signaling more gains in the near term toward $980.00 and $1,000.00. In case of a correction, the broken resistance at $950.00 will most likely act as a support.

Furthermore, there is a bullish trendline on the same chart with support at $950.00 which created an in-day support. Should the price corrects lower from current levels, it could find buyers near that mark.

Ethereum Price ETH/USD Forecast

Moving up to the 4-hour chart of ETH/USD, it seems like the pair is approaching a major connecting resistance trendline at $970.00. It may struggle to break the stated $970.00 resistance, but if it succeeds, the next stop for buyers could be $1,000.00.

On the flip side, if Ether’s price fails near $970.00 and corrects lower, then it could test a bullish trendline with support at $900.00.

Important Resistance Levels

$970.00 and $1,000.00

Important Support Levels

$950.00 and $900.00

Hourly RSI

The RSI is moving higher toward the 70 level.

Hourly MACD

The MACD is showing a lot of positive signs 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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