Key Highlights
The ETH/USD pair reached yet another milestone, as it crossed $150.00.
Looking at the hourly chart, there is a substantial resistance forming near $180.00.
With more than 15% gains, ETH/BTC also registered a solid increase towards 0.078BTC.

Technically, the 4-hour chart indicators remain positioned in the overbought territory.

Can Ether Price Test $200.00?

Ether maintains its bullish market structure against both the US Dollar and Bitcoin. ETH/USD carved out higher highs, and hit a fresh new all-time high of $179.60 (market average, USD).

Ether Price Analysis Chart

In the weekly forecast, we discussed the chances of Ether price reaching $150.00 if it settles above $132.00. It exceeded the expectation, as there was a solid rise towards $180.00.

Similarly, the ETH/BTC pair gained momentum, and was up by roughly 18% to 0.0780BTC. Strong support is now given at 0.075BTC and key support can be found at 0.070BTC.

When we look at the hourly chart of ETH/USD, the last three candles are pointing an important technical pattern. First, there was an inverted hammer pattern near $180.00, suggesting a very strong bearish/rejection signal.

The next candle overlapped, signaling market uncertainty and highlighting indecision. In my view, the $180.00 level is a major reaction zone.

The pair should quickly gather pace, trade towards $180.00 and attempt a break towards $200.00. If the next few candles fail to gain momentum, and ETH/USD slides back towards $160.00, it may signal a short-term top.

On the downside, there is a key support at $155.00-150.00. A break below it may push the price towards $125.00.

Ethereum ETH USD Forecast

The 4-hour chart is still bullish with supports at $150.00 and $125.00. There are two trend lines positioned near $125.00, which may act as a strong support if the pair moves down.

To sum it up, the $180.00 level holds a lot of importance. ETH/USD may attempt a break, but if it fails, we can witness a correction of roughly 15-20%. On the other hand, a push above $180.00 might call for $200.00.

Important Resistance Levels

$180.00 and $200.00

Important Support Levels

$155.00 and $150.00

Hourly RSI

The RSI is exhausted, and showing signs of changing direction.

Hourly MACD

The MACD is pointing mixed signals.
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

Today ETH/USD Forecast: Bearish Below $290
05-23-2017 ETH/USD Forecast: Ether Down, But Not Out
05-22-2017 ETH/USD Forecast: $180.00 is Reaction Level?
05-21-2017 ETH/USD Weekly Forecast: $150.00 on the Cards?
   

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