Key Highlights
ETH/USD extended its decline and traded towards the $210.00 level, where it found support.
There are two key bearish trend lines with resistance near $260.00 forming on the 2-hour chart.
ETH/BTC is back above 0.100 BTC after a dip towards the 0.090 BTC support.

Technically, the 12-hour chart indicators are struggling to remain in the bullish territory.

Ether Price Recovery Resistances

In Yesterday’s analysis, we discussed that it won’t be easy for Ether to remain above $250.00 versus the US dollar if it fails to move back above $290.00.

Ether Price Technical Analysis Chart

The downside move accelerated during the past 2-3 sessions and ETH/USD broke the $250.00 and $230.00 support levels to trade towards $210.00. A new monthly low was formed at $211.00, from where the price started a recovery.

Yesterday, Ether’s price fell by roughly $50.00 to $211.00. However, Ether seemed to have recovered by quite a bit and the price traded 23.6 percent above the Fibonacci retracement level of the last drop from $325.00 to $211.00. There was even an attempt to settle above $250.00, but the price seems to be struggling to hold the momentum.

Once again ETH/USD is moving down with a bearish angle below $250.00. On the upside, there are two key bearish trend lines with resistance near $260.00 forming on the 2-hour chart.

If the price moves higher, these trend lines might prevent upsides above $250.00-260.00. On the downside, there is an important support near $210.00-200.00.

Ethereum ETH USD Forecast

Looking at the 12-hour chart of ETH/USD, the price was clearly rejected from $210.00. However, the last 4-5 candles are super bearish and pointing a sustained negative bias.

An improvement in the market sentiment is needed for Ether if ETH/USD has to regain the bullish traction above $260.00 and $290.00.

Important Resistance Levels

$250.00 and $260.00

Important Support Levels

$210.00 and $200.00

12 hours RSI

The RSI is hovering near the 50 level and struggling.

12 hours MACD

The MACD is extending slides in the bearish territory.
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Ether Technical Analysis

08-17-2017 ETH/USD Forecast: About to Explode?
06-28-2017 ETH/USD Forecast: Is This a Real Bounce in Ether?
06-27-2017 ETH/USD Forecast: Why $200-210 Is Crucial for Ether?
06-26-2017 ETH/USD Forecast: Bearish Below $290

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