Key Highlights
The ETH/USD pair achieved an important milestone, and traded above the $100.00 level.
The pair is still trading with a bullish bias, showing no major sign of a pullback.
The ETH/BTC pair surged higher and was able to break a key hurdle at 0.060BTC.

Technically, the 2-hour chart indicators have reached overbought levels, but showing no sign of a correction.

Ether Price to Continue Higher?

In yesterday’s analysis, we discussed how the $100.00 target looks a real possibility in ETH/USD, considering the current trend. The pair gained momentum during the past two sessions, and surpassed the $89.20 high.

Ethereum ETH USD Forecast Chart

The best part was Ether price breaking an important milestone level at $100.00 (market average). A new all-time high was formed at $103.67 from where a short-term correction was initiated.

The ETH/BTC pair also enjoyed more than 10% gains, and was seen trading above 0.060BTC. The overall market sentiment for Ether is bullish, and there are chances of further upsides in the near term.

Looking at the 2-hour chart, there is a minor rejection scenario near $100.00, but it may not last long. On the downside, there is a bullish trend line formed with support at $95.00. It also represents the 23.6% Fibonacci retracement level of the last wave from the $81.00 low to $103.00 swing high.

However, the most important support is formed near $82.00-80.00. The stated levels may now act as a pivot zone, and can be considered as a strong barrier for a downside move.

Ether Price Technical Analysis Chart

When we move to the 6-hour chart, it looks like the ETH/USD pair has started a consolidation around the $100.00 level. An initial range support is found just above $95.00, and may play a major role in today’s price action.

There is also a major bullish trend line reaching $95.00, suggesting the importance of the mentioned level. Overall, there can be a minor dip in ETH/USD, but the $95.00 support level might hold losses in the short term, spurring an attempt to move towards $105.00.

Important Resistance Levels

$103.00 and $105.00

Important Support Levels

$95.00 and $92.00

6-hour RSI

The RSI is at 68, and may move towards 75 in the near term.

6-hour MACD

The MACD is moving nicely in the bullish zone.
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.

Ether Technical Analysis

08-17-2017 ETH/USD Forecast: About to Explode?
05-06-2017 ETH/USD Forecast: Short Term Breakdown
05-05-2017 ETH/USD Breaks $100, Bullish Stance Persists
05-04-2017 ETH/USD Forecast: $100 Looks Like Real Deal
   

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