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 Jan 17th 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

ETH/USD Forecast: Prepare For Crucial Break

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether is rapidly reaching towards a crucial upside break against the US Dollar, as the ETH/USD pair was able to retain the bullish bias.

Key Highlights

The ETH/USD pair made gains due to bullish momentum, and settled above the $50.00 handle.
The pair is currently trading just around the all-important $51.00 resistance, and looking to break it.
The ETH/BTC pair also gained traction overnight and traded higher by roughly 2.5%.

Technically, the hourly chart indicators are extending moves in the bullish territory.

Ether Price to Break $51 Soon?

Yesterday, we analyzed how Ether price was forming a base against the US Dollar and Bitcoin. It looks like it managed to build on the recent bullish momentum to continue further gains.

Ether Price Technical Analysis Chart

After breaking the $50.00 hurdle, the ETH/USD pair still struggled to clear the all-important $51.00 resistance. There were few attempts, but no success as of yet.

The current momentum and bias are very bullish, making the $51.00 target a real possibility. 

The hourly chart of ETH/USD clearly highlights the significance of that $51.00 resistance. A possible break could signal a run towards $54.00.

Also, there is a chance of a test of the 1.236 extension of the last drop from the $50.92 high to $41.12 low. On the downside, there is a bullish trend line with support at $50.60 formed on the same chart. In case there is a dip, the price may find support near $50.60.

Ethereum ETH/USD Forecast

The 4-hour chart also points a similar picture to the hourly chart. There is a clear major barrier at $51.00, preventing further upsides. On the downside, there are two bullish trend lines with support at $48.00 and $45.00 respectively.

In my view, there is a great chance of ETH/USD breaking higher above $51.00. Even if a dip materializes, the pair remains supported.

Important Resistance Levels

$51.00 and $52.60

Important Support Levels

$50.60 and $50.00

Hourly RSI

The RSI technical is reaching the 70 level, but with no signs of a pullback.

Hourly MACD

The MACD is moving heavily 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, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price Technical Analysis, Ether Price Analysis 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.