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 ---
--%
Tuesday Oct 16th 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: ETH/USD Downsides Remain Supported

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price is slowly recovering against the US dollar. ETH/USD could trade higher once again as long as the $695.00 support area is intact.

Key Highlights

Ether’s price recovery faced a strong barrier near $740.00 against the US dollar.
ETH/USD is holding a key bullish trendline with current support at $695.00 on the 2-hour chart.
ETH/BTC continued to trade higher and moved above the 0.0820BTC resistance.

Technically, the 2-hour chart indicators are placed nicely in the bullish territory.

ETH/USD Holding Key Supports

In the weekly analysis, we discussed ranging moves in ETH/USD above $640.00. The pair gained bullish momentum and traded above $700.00 and $720.00 before facing hurdles near $740.00.

More importantly, there were decent gains in ETH/BTC above 0.0800BTC. The pair jumped higher and broke the 0.0820BTC resistance, making further growth possible.

Ether Price Analysis Chart

Starting with the 30-minute chart of ETH/USD, the pair gained bullish traction and traded above $700.00. It even broke the $720.00 resistance, but then faced a strong hurdle near $740.00.

Ether buyers made more than two attempts to break the $740.00 barrier but they failed. As a result, there was a downward reaction and the pair broke a bullish trendline with support at $720.00. Ether’s price extended declines and, after a short-term correction, it traded below an ascending channel with support at $703.00.

However, ETH/USD tested a crucial bullish trendline with support at $695.00 on the 2-hour chart. Should the trendline support succeed in preventing further declines, Ether could bounce back toward a bearish trendline with current resistance at $730.00.

Ethereum Price ETH/USD Forecast

ETH/USD’s 2-hour and 4-hour charts show that ETH/USD is bullishly holding above a 21 SMA, while technical structure indicates limited chances of a downward move, particularly if buyers defend the $695.00 support.

A successful close above the trendline could push the price toward the $740.00 resistance, above which, the price will most likely accelerate gains toward $760.00 and $780.00.

Important Resistance Levels

$730.00 and $740.00

Important Support Levels

$700.00 and $695.00

2-hour RSI

The RSI is currently holding the 50 level with a few positive signs.

2-hour MACD

The MACD is stable 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.

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.