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 ---
--%
Saturday Nov 25th 2017
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

Event

Submit an event for consideration on ETHNews

Submit Event

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Events
Contact Us

ETH/USD Forecast: Can Ether Make It This Time?

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether trimmed most its yesterday’s losses against the US Dollar and Bitcoin. ETH/USD now faces an important challenge near $98.00-100.00.

Key Highlights

Yesterday’s reversal from the $83.00 support in ETH/USD was encouraging, as the pair gained bullish momentum.
Looking at the 4-hour chart, the pair faces a crucial resistance near $98.00.
The ETH/BTC pair was able to advance, and moved above 0.050BTC.

Technically, the hourly chart indicators are moving away from the overbought levels, signaling a short-term correction.

Ether Price Breakout Levels

In yesterday’s analysis, we saw a significant rejection pattern in ETH/USD on the hourly as well as the 4-hour chart. Both patterns signaled a reversal, and the pair was able to bounce back.

Ether Price Analysis Chart

The upside move was very strong, as the pair broke the 61.8% Fibonacci retracement level of the last decline from the $96.10 high to $82.99 low.

Once there was a break above the $92.00-92.50 resistance, Ether price gained momentum and soared above the $95.00 level. A new weekly high was formed at $97.87 before the price started a short-term correction.

Looking at the hourly chart, the pair has started a downside corrective move and may soon test a key bullish trend line at $93.00. The same area acted as a hurdle for buyers earlier, and now may provide support.

Furthermore, the $93.00 level coincides with the 23.6% Fib retracement level of the last upside from the $82.99 low to $97.87 high. It won’t be easy for ETH/USD to break past $93.00. If it succeeds, the $90.00 swing support may again come into the picture.

Ethereum ETH USD Forecast

The 4-hour chart of ETH/USD points a crucial barrier for further gains at $97.00-98.00. It is basically clearing a major resistance before testing $100.00 and attempting a break above it.

The current H4 candle is super bullish, but it won’t be a cake walk for buyers if they are looking to clear $98.00. In my view, there can be a short-term correction towards $93.00 before Ether makes an attempt to clear $98.00.

Important Resistance Levels

$97.00 and $98.00

Important Support Levels

$93.00 and $90.00

4-hour RSI

The RSI is heading higher and positioned well above the 50 level.

4-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, 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, 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.