Key Highlights
Ether is once again heading lower to challenge the $250.00 support against the US dollar.
ETH/USD is approaching a major triangle break with resistance at $260.00-270.00 on the 4-hour chart.
ETH/BTC is testing the 0.100BTC support area and struggling to hold it.

Technically, the 4-hour chart indicators are consolidating near their mid-lines.

What’s next for Ether Price?

ETH/USD continued to move back and forth in a $15.00 range narrow range, reflecting a typical scenario that persists before a major break.

Ethereum ETH USD Forecast

Looking at the 4-hour chart, there is a triangle pattern forming with resistance near $270.00. There is a confluence of two bearish trendlines near the mentioned level, preventing an upside break.

On the downside, the triangle support sits at $250.00 that stopped declines on 2-3 occasions. It is quite clear that the pair is approaching a break since the triangle is contracting and on the verge of a breakout.

A successful break and close above $275.00 might ignite a sharp rally in ETH/USD, favoring additional gains up to $300.00 first, and $320.00 then.

On the other hand, if Ether buyers fail to defend declines below $250.00, there can be a nasty dip towards the last swing low of $209.72.

Ether Price Technical Analysis Chart

Dropping down to the hourly chart of ETH/USD, there is a clear resistance forming around $272.00-274.00. There were three failures recently which increased the chances of a downside break in the short term.

Sellers already succeeded in clearing a bullish trendline with support at $264.00 and the 50 percent Fibonacci retracement level of the last wave from the $252.72 low to $272.50 high.

Looking at the current price action, there are chances of ETH/USD continuing inside the range of $250.00-275.00 in the short term as long as there is no triangle break.

Important Resistance Levels

$270.00 and $275.00

Important Support Levels

$250.00 and $220.00

Hourly RSI

The RSI is currently below the 50 level and heading lower.

Hourly MACD

The MACD is gaining momentum in the bearish zone.
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Ether Technical Analysis

08-17-2017 ETH/USD Forecast: About to Explode?
07-08-2017 ETH/USD Forecast: Ether to Extend Its Declines
07-07-2017 ETH/USD Forecast: Ether Sidelined below $275
07-05-2017 ETH/USD Forecast: Reversal Signal is Forming?

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