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 ---
--%
Sunday Aug 19th 2018
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

Ethereum Price Forecast: Will Ether Extend Recovery?

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price is consolidating below key resistances against the US dollar and bitcoin. ETH/USD needs to clear the $440.00 resistance to recover further.

Key Highlights

Ether’s price is consolidating in a range above the $420.00 support against the US dollar.
A major bearish trendline formed with resistance near $440.00 on the hourly chart of ETH/USD.
ETH/BTC is forming a divergence on the hourly chart, suggesting an upward move above 0.0700BTC.

Technically, the hourly chart indicators are struggling to move higher toward midlines.

Ether Price Analysis

The recent Ether’s price recovery was contained by the $440.00 level. The pair is currently trading in a range with support above $420.00 and resistance near the $440.00 level.

ETH/BTC is likely to move higher above the 0.0700BTC resistance since there is an RSI divergence forming on the hourly chart. However, upsides are likely to be capped by the 0.0720BTC resistance.

Ether Price Analysis Chart ETH

Starting with the hourly chart of ETH/USD, the pair seems to be forming a bullish pattern with lower highs at $448.08, $447.06, $442.17, and $441.46. Should there be a bullish break above the last high, there could be more gains toward $450.00.

On the downside, there is a key support formed near $425.00, below which the next significant support awaits at $420.00. To the topside, a push above the $441.00 resistance may push the price toward the next crucial resistance near $450.00.

More importantly, there is a significant bearish trendline formed with resistance at $449.00. An intermediate resistance is the 38.2 Fibonacci retracement level of the last decline from the $495.49 high to $418.40 low at $446.00.

Ethereum Price Forecast ETH

Therefore, there is a cluster of resistances starting with $440.00 up to $450.00. Above this last resistance, Ether’s price will most likely move into a bullish zone toward the $500.00 level in the near term.

Overall, the ETH/USD pair could possibly continue to consolidate above the $420.00 support before it makes an attempt to clear the $440.00 and $450.00 resistances. 

Important Resistance Levels

$440.00 and $450.00

Important Support Levels

$425.00 and $420.00

Hourly RSI

The RSI is currently near the 40-45 levels.

Hourly MACD

The MACD is currently flat in the bearish zone.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Ether Price, Ether Price Chart 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.