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 Nov 18th 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 Correcting Lower

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether is correcting lower against the US dollar but is stable versus bitcoin. ETH/USD could extend the current correction, but it remains supported.

Key Highlights

Ether’s price started a downward correction and traded below the $520.00 support against the US dollar.
There are several important supports on the 2-hour chart of ETH/USD, such as $480.00 and $460.00.
ETH/BTC is consolidating the recent gains above the 0.0620BTC support.

Technically, the 2-hour chart indicators are moving lower in the bullish territory.

ETH/USD is Approaching Key Supports

There were further gains in ETH/USD above the $530.00 level. However, the pair could not gain momentum above $535.00, which ignited a downward correction.

On the other hand, ETH/BTC is still above the 0.0620BTC support. The pair is currently consolidating gains before it makes an attempt to surpass the 0.0650BTC resistance.

Ether Price Analysis Chart

Looking at the 30-minute chart of ETH/USD, the pair formed a short-term top at $537.51 before declining. It dropped by more than $20.00, and broke supports such as $520.00 and $510.00. There was also a break below the 23.6 percent Fibonacci retracement level of the last leg from the $452.41 low to $537.51 high.

However, there are many supports on the downside, including the $500.00 psychological level. Below the mentioned $500.00, the 50 percent Fibonacci retracement level of the last leg from the $452.41 low to $537.51 high awaits at $492.00.

The 2-hour chart of ETH/USD suggests that the $480.00 and $460.00 levels are crucial supports. Therefore, if there is an extension of the current correction, Ether’s price could find a strong buying interest around $480.00-495.00.

Ethereum Price ETH/USD Forecast

Additionally, the next key support is around $460.00 and a bullish trendline on the same chart. The broken supports at $510.00 and $520.00 will most likely act as resistances. Should Ether succeed in surpassing the $520.00 resistance, the price may resume its uptrend above $530.00.

Overall, ETH/USD is short-term bearish and the 20 SMA maintains a downward slope near the daily low.

Important Resistance Levels

$510.00 and $520.00

Important Support Levels

$492.00 and $480.00

2-hour RSI

The RSI is moving lower toward the 50 level.

2-hour MACD

The MACD is reducing its bullish slope.

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.