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 Nov 21st 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

Event

Submit an event for consideration on ETHNews

Submit Event

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Events
Contact Us

Ether Price Just Made A Short-Term Bottom?

By

Aayush

Jindal

Guest AnalystETHNews.com

The ETH/USD pair tumbled yesterday, but later recovered. Currently, there are signs of a strong rejection around the $12.00-$11.80 support levels.

Key Highlights

Ether price after a nasty decline from $14.00 to $11.50 against the US Dollar found support and traded higher.
The ETH/USD pair bounced and traded back above the $12.00 handle.
On the upside, there is a bearish trend line formed on the hourly chart of ETH/USD, which can be seen as a resistance at $13.20.

Technically, there was a lot of noise during the past couple of sessions. In my view, short-term traders may find it difficult to trade ETH/USD this week.

ETH/USD Sighting a Recovery

Ether price weakened a lot during the past 24 hours against the US Dollar and posted a new weekly low of $11.48. Later, the Ether bulls appeared and managed to push the price higher from the lows.

Ether Price Analysis Chart

A recovery has already started as the price broke the 38.2% Fibonacci retracement level of the last drop from the $14.00 high to $11.45 low, and currently trading around the 50% Fib level of the same leg. On the upside, the most important resistance in the way for recovery is around a bearish trend line formed on the hourly chart of ETH/USD.

The highlighted trend line is currently aligned at $13.20, which may act as a barrier for further gains. If there is a break above it, then there might be a change in trend from bearish to bullish.

Ether Price Analysis Chart H4

The 4-hours chart of the ETH/USD pair suggests that the recent bounce was technically correct. There is a bullish trend line formed, which acted as a support area and preventing further losses.

There is a hammer pattern forming around the trend line as well, which is a strong bullish signal. If the pattern is correct and plays well, then it can be a catalyst bulls are searching to take the ETH/USD pair higher.

Important Resistance Levels

$13.20 and $13.50

Important Support Levels

$12.60 and $12.20

Hourly RSI

The RSI technical indicator is now above the 50 level, which is a positive sign.

Hourly MACD

The MACD has moved back into the bullish slope, calling for more gains.

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 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.