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 ---
--%
Sunday Oct 21st 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 Reaches Crucial Support

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether declined sharply below key supports against the US dollar but held ground versus bitcoin. ETH/USD is now well below $700.00 and at a risk of more declines.

Key Highlights

Ether is under bearish pressure and declined below $685.00 and $675.00 supports against the US dollar.
There was a break below a major bullish trendline with support at $702.00 on the 2-hour chart ETH/USD.
ETH/BTC is holding the 0.0750BTC support very well.

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

ETH/USD Turned Temporarily Bearish

There was no recovery in ETH/USD above $725.00 and the pair declined sharply below the $685.00 and $675.00 support levels. The market was under pressure after Google confirmed it would ban cryptocurrency-related ads starting in June.

ETH/BTC extended consolidation near the 0.0750BTC level. The pair may continue to trade in a range before it attempts an upside break above 0.0780BTC and 0.0800BTC.

Ether Price Analysis Chart

The 30-minute chart of ETH/USD suggests that the pair broke a major support near $680.00 to start the current decline. It also surpassed a connecting support trendline at $670.00 to move into a bearish zone.

The pair is clearly in a short-term bearish trend and it remains at a risk of more declines with resistances at $670.00 and $680.00. Above $680.00, there is a bearish trendline on the same chart with resistance at $683.00.

Ether sellers are back in control after ETH/USD broke a major bullish trendline with support at $702.00 on the 2-hour chart. The pair is likely heading lower still toward the $650.00 support and $642.35 low.

Ethereum Price ETH/USD Forecast

The $640.00-650.00 region is a significant support. A successful 2-hour close below $640.00 could trigger a downward push toward $600.00, which is not only a critical psychological line, but also held several declines recently.

On the flip side, Ether’s price would need to break above the $680.00 resistance with some strong momentum if it hopes to advance up to $700.00, the next key resistance which was previously a support.

Important Resistance Levels

$680.00 and $700.00

Important Support Levels

$640.00 and $600.00

2-hour RSI

The RSI is approaching the 30 level with a bearish angle.

2-hour MACD

The MACD is gaining pace in the bearish 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.