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: Are Things Looking Up For Ether?

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether is positioning for a major break against the US dollar. A successful daily close above $610.00 or $620.00 could accelerate gains in ETH/USD.

Key Highlights

Ether’s price is showing positive signs after recovering from the $575.00 support against the US dollar.
A significant breakout pattern has formed with resistance near $610.00 on the 6-hour chart of ETH/USD.
ETH/BTC could break the 0.0800BTC resistance to extend the current upward wave.

Technically, the 6-hour chart indicators are about to move back into the bullish territory.

Ether Price Analysis

Yesterday, we discussed how the next move in ETH/USD depends on whether it stays above the $575.00 support. The pair held the support and recovered nicely above the $592.00 and $600.00 resistance levels.

ETH/USD stayed in a range below the 0.0800BTC resistance. There is a convergence forming on the hourly chart, suggesting an upside break above 0.0800BTC and 0.0820BTC.

analysis

Looking at the 2-hour chart of ETH/USD, there was a good recovery from the $575.00 support. The price traded higher and broke a few key hurdles, including $600.00. There was also a break above the 50 percent Fibonacci retracement level of the last drop from the $628.21 high to $576.45 low.

However, the upward wave was capped by a bearish trendline with current resistance at $612.00. It seems like the price is consolidating gains above the $600.00 level while it prepares for the next break.

Ether buyers need to gain momentum to surpass the trendline resistance and push the price toward the recent swing high at $628.21. Above this, there could be further gains toward the $650.00 level.

Ethereum Price ETH/USD Chart

Moving up to the 6-hour chart of ETH/USD, there is a crucial breakout pattern forming with resistance near $610.00 and support at $600.00. Should there be a bullish break and a daily close above $610.00, the price may perhaps surge toward $650.00.

However, a bearish break below $600.00 may possibly push the price back toward the $575.00 and $550.00 support levels in the near term.

Important Resistance Levels

$610.00 and $620.00

Important Support Levels

$600.00 and $585.00

6-hour RSI

The RSI is just below the 50 level with a bullish angle.

6-hour MACD

The MACD is slowly moving back 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 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.