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Ether Price Analysis
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Ethereum Price Forecast: Ether Approaching Crucial Break





Ether remained on the edge above the $360.00 level against the US dollar. A failure to recover above $380.00 could push ETH/USD to a new 2018 low.

Key Highlights

Ether’s price continued to trade in a negative zone below the $400.00 level against the US dollar.
An important bearish trendline formed with resistance near $380.00 on the 6-hour chart of ETH/USD.
ETH/BTC is trading in a tight range below the 0.0580BTC resistance and above 0.0540BTC.

Technically, the 6-hour chart indicators are flat with a few negative signs in the bearish territory.

What's the Next Move for ETH/USD?

ETH/USD remained confined in a tiny range above the $360.00 level during the past few sessions. There was a slight increase in selling pressure due to the new RBI guidelines in India, which will prohibit regulated entities from working with individuals or companies that deal with cryptocurrencies.

ETH/BTC also remained in a range above 0.0540BTC. The pair continues to flirt with the 0.0550BTC pivot level and is currently trading well below the 0.0580BTC resistance.

Ethereum Price ETH/USD Forecast

Looking at the 6-hour chart of ETH/USD, there is a crucial breakout pattern in place with support around the $360.00 level, and an important bearish trendline formed with resistance near $380.00.

Therefore, the next move in Ether depends on the $360.00 support and $380.00 resistance. Should there be a bullish break above $380.00, the price could accelerate toward the $400.00 level.

On the other hand, if Ether’s price breaks the $360.00 support, it will most likely accelerate declines toward $350.00, which would put the pair at risk of heavy declines toward $300.00 in the near term.

Ether Price Analysis Chart

Dropping down to the 2-hour chart of ETH/USD, there is a broad range formed with support at $360.00 and resistance at $420.00.

To sum up, Ether seems to be consolidating in a range above the $360.00 support, and it may possibly make the next move either above $380.00 or below $360.00 during the upcoming sessions.

Important Resistance Levels

$380.00 and $400.00

Important Support Levels

$365.00 and $360.00

6-hour RSI

The RSI is directionless near the 35 level.

6-hour MACD

The MACD is mostly flat 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.

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