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 ---
--%
Wednesday Aug 22nd 2018
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 Trimming Losses

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether started a decent upward recovery against the US dollar and bitcoin. ETH/USD is currently trading above $700.00 with positive momentum.

Key Highlights

Ether’s price formed a low at $642.35 and recovered sharply against the US dollar.
There was a break above two bearish trendlines with resistance at $700.00 and $720.00 on the hourly chart ETH/USD.
ETH/BTC broke the 0.0780BTC resistance and is likely heading toward 0.0800BTC.

Technically, the hourly chart indicators moved back in the bullish territory.

ETH/USD is Showing Positive Signs

After yesterday's decline, ETH/USD found support near $640.00 that provided the much needed foundation for a recovery back above $700.00.

There were additional recoveries in ETH/BTC, as the pair currently trades above the 0.078BTC resistance. If this current trend continues, we may see a test of the next resistance at 0.080BTC.

Ethereum Price ETH/USD Forecast

Starting with the 4-hour chart of ETH/USD, there was a crucial base that formed at $642.35. The pair entered a bullish pattern, then pushed for an upward move above $680.00.

The upward move was strong as the price formed four back-to-back bullish candles. There was also a break above the 23.6 percent Fibonacci retracement level of the last decline from the $894.91 high to $642.35 low.

The price is currently facing a major bearish trendline with resistance near $745.00-750.00. A successful close above the trendline resistance at $750.00 would solidify a bullish reversal from the $642.35 low.

Above $750.00, the 50 percent Fibonacci retracement level of the last decline from the $894.91 high to $642.35 low awaits around $765.00 to prevent upsides. Further above $765.00, the $800.00 pivot level may act as a hurdle.

Ether Price Analysis Chart

The hourly chart of ETH/USD suggests a break above two bearish trendlines with resistance at $700.00 and $720.00. These are positive signals, as the pair currently trades above $700.00.

The broken resistances at $720.00 and $700.00 may perhaps prevent downsides in the short term. The current bias is positive as long as Ether stays above the $700.00 support.

Important Resistance Levels

$750.00 and $765.00

Important Support Levels

$720.00 and $700.00

Hourly RSI

The RSI is currently stable above the 50 level with positive signs.

Hourly 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.

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.