Key Highlights
The ETH/USD pair maintained a bid tone during the weekend and stayed above the $340.00 support.
There are two important supports formed on the 4-hour chart at $340.00 and $320.00, which holds the key in the short term.
The ETH/BTC pair remains confined to a tiny range with an overall bullish sentiment.

Technically, the hourly chart indicators are moving to and fro near their mid lines in the bullish territory.

Ether Price Holding above $340.00

The ETH/USD pair made slow gains on Sunday, exceeding a short-term resistance at $360.00 and trading near the $380.00 level. It traded as high as $378.38 from where it started a downside move.

Ether Price Technical Analysis Chart

It dipped back towards a major support at $340.00 which prevented further losses. Ether’s price is once again moving higher and recently broke a short-term resistance at $355.00, but failed to overcome sellers at $360.00.

The price may retest the $340.00 support but likely to stay above it. It seems like there is a range pattern forming with support at $340.00 and resistance at $360.00. Above $360.00, the next resistance is at $380.00 followed by the all-important $400.00.

Once ETH/USD breaks $360.00, it sets the path for a $20.00 ride. On the other hand, the next support below $340.00 sits at $320.00 followed by $280.00.

All three supports ($340.00, $320.00 and $280.00) can be clearly seen on the 4-hour chart of ETH/USD. The stated supports are crucial for the current bullish trend and must hold in the near term.

Ethereum ETH USD Forecast

A short-term descending bearish trend line at $365.00-360.00 is preventing a test of $400.00. The recent failure near $378.00, was also around the same trend line and the 76.4% Fib retracement level of the last decline from the $414.00 high to $261.00 low.

Ether buyers need to step up the bullish momentum in order to overcome the current range pattern and trend line resistance. The short-term trend is neutral to bullish with high chances of more gains towards $395.00-400.00 in the near term.

Important Resistance Levels

$360.00 and $380.00

Important Support Levels

$340.00 and $320.00

Hourly RSI

The RSI is heading lower towards the 50 level.

Hourly MACD

The MACD is almost flat with no major bullish momentum and suggesting a range pattern.
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.

Ether Technical Analysis

Today ETH/USD Forecast: Bearish Below $290
06-20-2017 ETH/USD Forecast: Tight Range above $340
06-19-2017 ETH/USD Forecast: $340.00 and $320.00 as Crucial Supports
06-18-2017 ETH/USD Weekly Forecast: Risk of Upside Break Grows
   

Subscribe to our Newsletter

* indicates required
Email Address *
First Name
Last Name
Country
News Categories of Interest