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 ---
--%
Monday Jun 25th 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: Ether Moves Into The Red Zone

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price moved into the red zone against the US dollar and bitcoin. ETH/USD is accelerating declines toward the next key support at $580.00.

Key Highlights

Ether’s price failed to hold an important support at $600.00 and declined against the US dollar.
Another potential support awaits near $580.00 on the 12-hour chart of ETH/USD.
ETH/BTC also declined sharply and moved below the 0.0820BTC and 0.0800BTC support levels.

Technically, the 2-hour chart indicators are now placed in the extreme oversold territory.

Ether Price Analysis

Yesterday, we discussed an important support at $660.00 on the 2-hour chart of ETH/USD. The pair failed to hold the mentioned uptrend support and declined sharply toward the $580.00 handle.

Similarly, there was an increase in selling pressure on ETH/BTC. The pair traded lower and broke two key supports at 0.0820BTC and 0.0800BTC to move into a bearish zone.

Ethereum Price ETH/USD Forecast

Let’s start with the 12-hour chart of ETH/USD to understand the recent decline. The pair topped out at $833.91 before following a slow and steady declining path. The price action was stable until the pair broke a connecting bullish trendline on the same chart with support at $680.00.

It opened the doors for bearish moves, and Ether’s price declined below a crucial uptrend support at $640.00. It is currently approaching another important support at $600.00, which is likely to stop the current downward move.

Should Ether buyers fail even to defend $600.00, it could be seen as a strong bearish signal. The next supports in the stated scenario could be $525.00 and $500.00.

Ether Price Analysis Chart

To the topside, there is a bearish trendline with resistance at $700.00. Therefore, the price must move back above $700.00 to kick-start a fresh bullish wave in the near-term. Dropping down to the 2-hour chart, there are back-to-back red candles, signaling a strong selling pressure.

The recent low is $609.92 and the price is currently consolidating losses due to oversold conditions. Ether may well consolidate above the $600.00 support for a few sessions before making the next move either above $640.00 or toward $550.00.

Important Resistance Levels

$640.00 and $660.00

Important Support Levels

$600.00 and $590.00

2-hour RSI

The RSI is near extreme oversold levels with mostly negative signs.

2-hour MACD

The MACD is strongly placed in the bearish 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 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.