Technically, the hourly chart indicators are rising higher in the bullish territory.
Ether Price Analysis
During the past two sessions, there were positive moves in ETH/USD above the $460.00 support. The pair formed a solid bullish pattern on the 6-hour chart, indicating a possible upside break in the near term.
ETH/BTC remained well positioned above the 0.0700BTC support area. Should ETH/USD continue to climb, it could help ETH/BTC gain bullish momentum.
Starting with the 6-hour chart, it seems like there is a strong support base formed above $450.00. The last 6-hour candle suggests a bullish pattern. More importantly, the pair is attempting a close above a crucial bearish trendline with resistance at $465.00.
Should Ether break $475.00, the price could clear the $480.00 resistance, and the next barrier is near the 61.8 percent Fibonacci retracement level of the decline from the $548.12 high to $405.29 low at $494.00.
Dropping down to the hourly chart of ETH/USD, there is a bearish trendline in place with current resistance at $475.00. Therefore, a break above $475.00 could accelerate gains toward $480.00 and $494.00.
On the downside, an initial support is at $465.00, below which, the price may well decline to $460.00 and $458.00. Overall, the 6-hour chart is signaling a possible bullish break, but Ether’s price must gain pace above $475.00 to validate the pattern.