Key Highlights
Ether buyers fight hard to regain $235.00 barrier against the US dollar, but in vain, as sellers are keeping gains limited.
There is a clear range visible on the 2-hour chart of ETH/USD with supports at $220.00 and $212.00.
ETH/BTC is steady around 0.082BTC and eyeing further upsides in the short term.

Technically, the 2-hour chart indicators are flat, suggesting a substantial consolidation.

Ether Price Upside Remains Capped

The ETH/USD pair recovery could not gain extra traction during the past three sessions and it mostly traded within a tiny range of $20.00.

Ethereum ETH/USD Forecast

Looking at the 2-hour chart, there is a clear range pattern forming with supports at $220.00 and $212.00. On the upside, the range resistance is near $235.00-236.00. It protected upside breaks on many occasions recently as buyers fought hard to take the price towards $250.00.

Only a convincing 2-hour close above $235.00 could lead to gains towards $250.00 and $260.00. Furthermore, a break and close above the 61.8 percent Fibonacci retracement level of the last decline from the $256.08 high to $187.40 low is needed to lift the market sentiment.

Dropping down to the 30-min chart of ETH/USD, there is a bearish trendline forming with resistance at $230.00. To the downside, there is a connecting support trendline positioned near $222.00.

Ether Price Technical Analysis Chart

It seems like the price is currently declining within range and leaning towards $220.00. The pair still lies in a bullish momentum. Hourly support is given at $222.00. Stronger support is located at $220.00.

To the upside, the 50 percent Fibonacci retracement level of the last decline from the $235.29 high to $219.72 at $228.00 is a short-term resistance. Above $228.00 and trendline resistance, the all-important $235.00 barrier might come into play.

In the short term, ETH/USD could continue to range trade before grabbing enough bids for a strong rise towards $250.00.

Important Resistance Levels

$230.00 and $235.00

Important Support Levels

$220.00 and $215.00

2-hour RSI

The RSI is currently below the 50 level, but with no proper direction.

2-hour MACD

The MACD is almost flat, suggesting consolidation.
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.

Ether Technical Analysis

08-17-2017 ETH/USD Forecast: About to Explode?
07-25-2017 ETH/USD Forecast: Buyers Losing Grip?
07-24-2017 ETH/USD Forecast: Bullish Within Range
07-23-2017 ETH/USD Weekly Forecast: Buyers In Control
   

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