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 ---
--%
Friday Dec 15th 2017
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

Ether Price Weekly Analysis – ETH Stabilizing, Volumes Decrease

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether price weakened by around 45% as the DAO attack became painful for many investors. Currently, it looks like the $10.00 support area is playing its part well.

Key Highlights

Ethereum price after a deadly fall during the past 48 hours against the US Dollar started to calm down.
ETH/USD after trading as low as $10.19 found buyers and recovered by more than $2.
On the upside, the $14.00 level can be considered as an important resistance for a recovery in the near term.

Ether price stabilizing as the trading volumes decreased during the past few hours. Is this a sign that sellers are done for now selling ETH?

Ether Price To Recover?

In yesterday’s analysis, I mentioned that the ETH/USD pair may be heading towards the $10.00 support area. It recently traded towards the mentioned level, but there was no full test of $10.00, as the price traded as low as $10.19.

Ethereum Price Weekly Analysis

ETH/USD started recovering and currently showing a few positive signs on a lower time frame chart like the last 24-hours chart. There was a minor bearish trend line formed on the chart, which was broken during the recent upside move.

The price recovered by around $2, but it won’t be easy for the ETH bulls to take it higher in the short term. The downtrend is far from over, and the bearish sentiment is still intact. It’s just that the price may be able to correct a few more points moving ahead if the trading volumes remain stable.

Ethereum Price Weekly Analysis 7D

On the upside, there is a monster resistance zone around $14.00. I mentioned yesterday as well that the stated level represents a major hurdle for a recovery. The yellow lines plotted on the last 7-days chart of ETH/USD points the importance of the resistance area. It also represents the 38.2% Fib retracement level of the recent drop from the $21 high to $10.20 low.

Even if we look at the last 2-weeks chart, then the same resistance area is visible and plotted with a red line. I think if the price continues to move up, then the $14.00 may act as a major barrier for the bulls, and can be considered as a sell zone with a stop of not more than 1-2 points.

Ethereum Price Weekly Analysis 2W

On the downside, the most important support area is at $10.00. A break below it won’t be good at all for Ethereum price in the near term.

Important Resistance Level

$14.00

Important Support Level

$10.00

Hourly RSI

The RSI is still below the 50 level, suggesting the price is in a down trend.

Hourly MACD

The MACD is slowly stabilizing, which is a good initial sign of a recovery.

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 Ethereum Price Weekly Analysis, Ethereum Price Analysis 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.