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Ether Price Analysis
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Ether Price Skyrockets, Are You Buying?





Ether price drifted higher and traded towards $17.00 against the US dollar. Buying remains a good option as long as the current trend continues.

Key Highlights

Ethereum price surged higher during the past 48 hours and created a new high above $16.00 against the US Dollar.
ETH/USD posted healthy gains, but ETH/BTC was seen lagging as Bitcoin price also rocketed past $650 recently.

The current market sentiment remains bullish for both ETH and BTC, so we can witness more upsides in ETH/USD and BTC/USD moving ahead.

Ether Price Trend Line Support

Ether price might have surprised many traders recently, but not me as I was looking for more upsides in ETH against the US Dollar. There were nasty gains in ETH during the past 48 hours, as the price moved above a couple of important resistance levels, including $15 and $16.

Ethereum Price Analysis Chart

ETH/USD traded as high as $16.65, and it looks like there is no stopping the bulls at the moment. There is a bullish trend line formed on the last 24-hours chart of ETH/USD, which may act as a catalyst for more upsides. As long as the price is above it, it may continue to move higher.

The next target can be $17.00. However, on the other hand, if the price breaks the trend line support, then a move towards the $16.00 support area is possible.

If we look at the last 7-day chart of ETH/USD, then we can easily make out that once Ether broke $15.00, there was a nice upside ride. The trading volumes also increased heavily during the past 24 hours, signaling a lot of action in both ETH/USD and ETH/BTC.

Ethereum Price Analysis Chart 7D

Overall, buying dips remain a nice deal as long as the price is above $15.00.

Important Resistance Level


Important Support Level


Hourly RSI

The RSI is in the overbought levels, which is a sign that the price may correct a few points anytime.

Hourly MACD

The MACD is strongly bullish, calling for more upsides.

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.

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