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 ---
--%
Tuesday Dec 12th 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

Key Risks Warn Against Chasing ETH/USD Higher

By

Aayush

Jindal

Guest AnalystETHNews.com

The ETH/USD pair presents a negative tone, trading not far from the weekly low set at $10.38, and charts showing enough signals to confirm a downward continuation.

Key Highlights

Ether price failure to recover against the US Dollar is raising concerns, and may dent the market sentiment further in the near term.
There is a descending channel pattern formed on the last 7-days chart of the ETH/USD pair, which is acting as a downside move catalyst.
The price is super bearish if we look at a lower timeframe chart like the 24-hours chart.

Ether price failed to close back above $10.80 resistance one more time with price action persistent to trade flat within $10.20 and $10.80 levels.

Ether Price Bearish Formation

Yesterday, I highlighted a contracting triangle pattern and mentioned that the $10.70-80 price levels could act as a major resistance. It did stall the upside move Intraday and ignited a downside move.

Ether Price Analysis Chart

The ETH/USD pair is currently in a clear downtrend looking at the 24-hours chart. There are a couple of bearish trend lines formed, acting as a resistance and pushing the pair down. Moments ago, the price broke a short-term support area (highlighted with orange line), which may ignite further losses.

If the recent support break is true, the price may head towards the $10.20 range support area. The upside remains capped for the moment until the highlighted trend lines are breached.

Ether Price Analysis Chart 7D

The 7-days chart's price action shows a descending channel pattern being formed and could see a potential continuation to the downside. The price recently tested the channel resistance area and failed to break it, which might push ETH/USD towards the lower trend line positioned at $10.20.

The $10.20 level should offer an immediate support, with some buying interest. Only a break below it could take the pair towards $10.00.

Important Resistance Levels

$10.60 and $10.80

Important Support Levels

$10.30 and $10.20

Hourly RSI

The RSI indicator is well below the 50 level, which is a bearish sign.

Hourly MACD

The MACD is not moving much, which is a sign of a consolidation at the moment.

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 Ether Price, Ether 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.