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Ether Price Analysis
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Ethereum Price Forecast: Ether At Significant Juncture





Ether’s price resumed its uptrend against the US dollar and bitcoin. ETH/USD has to settle above $680.00 to extend upsides in the near term.

Key Highlights

Ether’s price trimmed yesterday’s losses and moved above the $675.00 resistance against the US dollar.
ETH/USD is currently attempting a close above a key bearish trendline with resistance at $680.00.
ETH/BTC is moving higher toward the next resistance at 0.0750BTC.

Technically, the 2-hour chart indicators moved back sharply into the bullish territory.

Can ETH/USD Break Through This Time?

Yesterday, we witnessed a sharp bearish wave in ETH/USD below the $650.00 support level. However, the pair found a strong buying interest near $640.00 and recovered positively.

The market sentiment for ETH/BTC also improved and the pair moved above 0.0730BTC. It is currently gaining traction and moving toward the next resistance at 0.0750BTC.


Looking at the 30-minute chart of ETH/USD, the pair traded with a lot of strength and broke the $650.00 and $675.00 resistance levels. It traded to a new weekly high at $685.14 before starting a downward correction.

It is currently correcting lower and broke a connecting bullish trendline with support at $680.00. Should there be further declines, Ether could test the next bullish trendline with support at $655.00 on the same chart.

The current price action is bullish and it seems like Ether is preparing for further gains above $685.00. However, buyers are facing a tough challenge near an important bearish trendline with resistance at $680.00 on the 2-hour chart.

Ethereum Price ETH/USD Forecast

The last two candles are indicating indecision around $680.00. Once there is a successful 2-hour close above this level, the price will most likely accelerate past the $690.00, $695.00, and $700.00 hurdles.

Gains beyond $700.00 would favor a firmer uptrend and may be enough to confirm that a bottom has already taken place at $628.75.

On the flip side, a failure to settle above the $680.00 resistance could push the price toward the $660.00 and $655.00 support levels. 

Important Resistance Levels

$680.00 and $690.00

Important Support Levels

$660.00 and $655.00

2-hour RSI

The RSI is rising toward the 65 level.

2-hour MACD

The MACD is gaining momentum 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. 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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