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 ---
--%
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: Ether Responding To Key Uptrend Support

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price rebounded after a short-term correction against the US dollar. ETH/USD remained above the key $140.00 support, but ETH/BTC broke the 0.0370BTC support.

Key Highlights

Ether’s price corrected lower and tested the $142.00 support area against the US dollar.
A crucial bullish flag is formed with resistance near $149.00 on the 2-hour chart of ETH/USD.
ETH/BTC traded below the 0.0370BTC support and could test 0.0365BTC.

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

Ether Price Analysis (ETH)

Yesterday, we discussed a short-term downside correction from the $150.88 high in ETH/USD. The pair did decline below the $145.00 support, but it stayed well above the key $140.00 support area and later bounced back.

ETH/BTC extended its downside correction below 0.0375BTC and traded below the 0.0370BTC support level. It seems like the pair might continue to decline, and it could revisit the 0.0365BTC support.

Ethereum Price Analysis ETH Forecast

Starting with the 2-hour chart of ETH/USD, the pair clearly struggled to break the $150.00 resistance area and later declined. It broke the $145.00 and $144.00 support levels, but buyers protected the $142.00 support and the 23.6 percent Fibonacci retracement level of the upward move from the $120.44 low to $150.88 high.

Ether bounced back above $145.00 and retested the $149.00-150.00 resistance area. More importantly, it seems like there is a crucial bullish flag formed, with resistance near $149.00 on the same chart.

Should Ether break the $150.00 resistance, it could rally toward the $160.00 resistance or this year's high of $163.57 (formed on January 06, 2019). Conversely, a downside break below the $142.00 and $140.00 supports might trigger an extended decline toward the $132.00 support.

Ether Price Analysis Chart

Moving down to the 30-minute chart of ETH/USD, there was a break above a bearish trendline at $144.20. The price even traded above $145.00 and settled above $146.00. The current price action suggests that buyers are struggling to gain strength above $148.00.

Therefore, there are chances of another downside correction toward $146.00 or $144.00 before Ether’s price makes an attempt to break $149.00-150.00. On the negative side, a continuous failure near the $150.00 resistance could start a significant decline below $140.00 in the coming sessions.

Important Resistance Levels

$149.00 and $150.00

Important Support Levels

$144.00 and $142.00

2-hour RSI

The RSI is moving higher toward the 70 level.

2-hour MACD

The MACD is placed nicely 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.

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.