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 ---

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

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


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

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

ETH/USD Forecast: Much Needed Correction Underway





Ether fell sharply versus all fiats like the US Dollar and Euro. ETH/USD has started a much needed correction and approaching crucial supports.

Key Highlights

The ETH/USD pair corrected lower sharply after completing a bullish structure near $400.00.
There was a break below a crucial bullish trend line at $350.00 on the 4-hour chart.
The ETH/BTC pair is stable since Bitcoin price also declined with the same pace as of Ether.

Technically, the 12-hour chart indicators started correcting extreme overbought readings for the first time this month.

Ether Price Downsides Remain Supported

Yesterday, we discussed the chances of ETH/USD overtaking $395.00 to extend gains above the $400.00 level. However, the pair failed to gain momentum and declined below the trend lines with support near $375.00 on the hourly chart.

Ether Price Technical Analysis Chart

It opened the doors for a short-term bearish bias and the pair extended decline below a key bullish trend line at $350.00 on the 4-hour chart.

During the downside, Ether sellers were able to break the 50% Fibonacci retracement level of the wave from the $248.00 low to $414.00 high. It means that the pair has started a correction phase below $350.00.

In my view, the current correction was much needed. All-important technical indicators on the timeframes such as H12, Daily and weekly were in extreme overbought conditions.

The recent dip has cooled things, and the pair is now shaping up well. At the moment, the $300.00 handle is preventing declines. Below $300.00, the next major support lies at $260.00-250.00.

The $250.00 area is a decisive support and monthly pivot. Any declines towards $250.00 should face strong buying interest.

Ethereum ETH USD Forecast

Looking at the 12-hour chart of ETH/USD, the pair is currently attempting a close below a significant support trend line at $300.00. A successful close below the trend line support may spark more losses towards $250.00.

Overall, the current correction structure is positive so far. We need to keep monitoring two important supports - $300.00 and $250.00. As long as the price is above these levels, the medium to long term bias remains bullish.

Important Resistance Levels

$340.00 and $350.00

Important Support Levels

$300.00 and $250.00

Hourly RSI

The RSI is approaching 50, which should hold in the short term.

4-hour MACD

The MACD has moved sharply in the bearish zone with a divergence.

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.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price Chart, Ether Price Analysis and Ethereum Analysis News.

The content on 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 content to make an investment decision. is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.