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Ether Price Analysis
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Ethereum Price Forecast: Ether Breaks Major Barrier





Ether’s price is surging higher against the US dollar and bitcoin. ETH/USD is eyeing more upsides above the $750.00 level in the near term.

Key Highlights

Ether’s price pushed past a major resistance at $725.00 against the US dollar.
There is a key bullish trendline forming with support at $720.00 on the 30-minute chart of ETH/USD.
ETH/BTC also moved higher and broke an important resistance at 0.0790BTC.

Technically, the 2-hour chart indicators are moving higher toward the overbought levels.

ETH/USD Resumes Uptrend

There was a sharp upward move in ETH/USD above the $680.00 resistance level. The pair gained traction and succeeded in surpassing the $700.00 and $725.00 hurdles.

More importantly, there were further gains in ETH/BTC. The pair broke the 0.0750BTC and 0.0790BTC resistance levels, and it seems like the pair may continue to move higher.

Ethereum Price ETH/USD Forecast

Looking at the 2-hour chart of ETH/USD, the pair made a nice advance from the $675.00 swing low. Ether buyers took control, resulting in a break above the crucial barrier at $725.00.

The next resistance awaits at $760.00, followed by $770.00. However, the most important barrier for the current medium-term bullish trend is at $800.00. The prevailing price action indicates that the pair is less likely to correct lower before testing $760.00.

On the downside, there is a significant bullish trendline with support at $700.00. Moreover, the previous resistance at $690.00 could act as a strong support. Moving down to the 30-minute chart, there are many bullish signs above $700.00.

Ether Price Analysis Chart

There is also a key bullish trendline forming with support at $720.00 along with a horizontal support at $725.00. Should the price correct lower from the current levels, it will most likely find bids near $725.00 and $720.00.

Overall, Ether is gaining bullish momentum and it will most likely accelerate higher above the $750.00 and $760.00 levels in the near term. 

2-hour MACD

The MACD is showing a lot of positive signs in the bullish zone.

2-hour RSI

The RSI is reaching the overbought levels.

Important Support Levels

$720.00 and $725.00

Important Resistance Levels

$760.00 and $770.00

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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