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Ether Price Analysis
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Ethereum Price Forecast: Ether Targets Fresh Highs





Ether is rising positively against the US dollar and bitcoin. ETH/USD breached a few important hurdles and moved back into a bullish zone.

Key Highlights

Ether gained upside momentum and broke a major resistance at $860.00 against the US dollar.
There are two key supports forming at $860.00 and $840.00 on the 30-minute chart ETH/USD.
ETH/BTC continued to move higher and is currently trading above the 0.0850BTC resistance.

Technically, the 30-minute chart indicators are rising higher in the bullish territory.

ETH/USD to Gain Further

In the weekly forecast, we discussed a crucial resistance at $860.00 for ETH/USD, which the pair recently broke.

More importantly, ETH/BTC also traded higher and was able to move above the 0.0850BTC resistance. The next resistances on the upside are at 0.0880BTc and 0.0900BTC.

Ethereum Price ETH/USD Forecast

Looking at the 2-hour chart of ETH/USD, there was a steady rise and the pair broke an important bearish trendline with resistance at $850.00. It opened the doors for more gains past $860.00.

There was also a 2-hour close above $850.00, which is a positive sign. The pair even surpassed the 50 percent Fibonacci retracement level of the last decline from the $959.02 high to $788.16 low.

An intraday high was formed at $880.35, and Ether’s price is currently consolidating gains. On the downside, an initial support rests at $860.00 (previous resistance). There is also a bullish trendline forming with support at $842.00.

Therefore, if there is a downward correction for Ether, the mentioned $860.00 and $840.00 levels are likely to act as strong supports and buy levels.

Ether Price Analysis Chart

Above $880.00, the price has to break the $900.00-910.00 barrier, above which the price would most likely overcome selling pressure and trade toward $1,000.00.

The overall price structure is positive since ETH/USD broke the $860.00 resistance. However, the $910.00 resistance is the next major challenge and a significant hurdle for more upsides.

Important Resistance Levels

$900.00 and $910.00

Important Support Levels

$860.00 and $840.00

2-hour RSI

The RSI is now above 50 and is moving higher toward the 60 level.

2-hour MACD

The MACD has moved back 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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