Key Highlights
Ether price struggled during the past two sessions, and failed to hold gains against the US Dollar.
There is a clear resistance formed near $45-46, looking at the 2-hour chart of the ETH/USD pair.
The 6-hour chart suggests that the pair is soon approaching a short-term break.

Technically, the 6-hour chart indicators are well placed in the bullish territory with no sign of sellers.

Ether Price to Retest $40-38 Support?

It looks like Ether price is struggling to hold the recent gains above $40 against the US Dollar. During the past 2 days, it attempted on a couple of occasions to break the $45-46 resistance area, but failed.

Ether Price Analysis Chart

Similarly, the ETH/BTC pair struggled to remain above the 0.042BTC support area, and now trading below an important support area of 0.040BTC.

Looking at the 2-hour chart of ETH/USD, there is a clear barrier above $45. It is acting as a major resistance and preventing further gains. The pair is currently trading above two bullish trend line with support at $42 and $41.

Both highlighted trend lines hold a lot of importance, as a break below them could ignite a downside move in Ether price. On the upside, a 2-hour close above $46 is needed for buyers to step up the momentum. The stated level also coincides with the 61.8% Fibonacci retracement level of the last decline from the $52.80 high to $31.26 low.

So, a close above the stated technical level is must for the price to trade further higher. Once is happens, it may open the doors for a move towards the $50 handle.

Ethereum ETH/USD Forecast

When we look at the 6-hour chart of ETH/USD, there is a crucial bearish trend line acting as a resistance near $44-45. On the downside, there is a bullish trend line with support above $40.

So, we can say, there is a breakout pattern forming on the chart with support around $41-40 and resistance at $45-46.

Important Resistance Levels

$45 and $46.00

Important Support Levels

$41.00 and $40.00

2-hour RSI

The RSI technical is slowly heading lower, but remains above the 50 level.

2-hour MACD

The MACD is slowly losing the grip, but still in the bullish zone.
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.

Ether Technical Analysis

Today ETH/USD Weekly Forecast: Ether Primed For Lift-Off
03-22-2017 ETH/USD Could Extend Weakness Below $40
03-21-2017 ETH/USD Forecast: Struggling To Gain Momentum
03-20-2017 ETH/USD Correction Phase Likely Over
   

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