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

Ether Price Weakness To Be Short Lived

By

Aayush

Jindal

Guest AnalystETHNews.com

The Ether yesterday failed to capitalize on the US dollar weakness, but the technical indicators for ETH/USD are now heading north, which is a positive sign.

Key Highlights

Ether price continued to move inside a range against the US Dollar, as there was no catalyst for a break.
There is a range pattern forming with resistance at $13.00-$13.20 and support at $12.20-$11.80.
ETH/USD may consolidate for a few more sessions before we can witness a real break either higher or lower.

The ETH/USD pair remains within familiar ranges, and trading at current position seems quite risky. Once we have a clear break, trades can be planned accordingly.

ETH/USD Range Pattern

Ether price is currently trading in a range, and it looks like ETH weakness may be over soon. Looking at the hourly chart of the ETH/USD pair, there is a clear range pattern with resistance at $13.00-$13.20 and support at $12.20-$11.80.

Ether Price Analysis Chart

When we look closely, we can make out that the ETH bulls are trying hard to clear the range resistance area. There were at least 4-5 attempts to break $13.20 whereas the bears only attempted a couple of times to break the support area. This suggests that the chances of an upside move are more since at one point of time someone has to give up.

In my view a successful close above the $13.20 resistance area may trigger more gains in ETH/USD and could push the pair towards $14.00. If for some reason the ETH bulls fail to take the price higher, then a close below $12.00 could be very deadly for ETH/USD in the near term.

Ether Price Analysis Chart H4

There is one more reason why the chances of an upside move are higher. There is a major bullish trend line formed on the 4-hours chart of the ETH/USD pair, which may continue to act as a support zone.

So, as long as the highlighted trend line support in place, Ether price may attempt to move higher.

Important Resistance Levels

$13.20 and $13.00

Important Support Levels

$12.40 and $12.00

Hourly RSI

The RSI technical indicator is looming around the 50 level, signaling uncertainty of direction.

Hourly MACD

Currently, there are no signs of a break looking at the hourly MACD.

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.