Key Highlights
Ether trades stable around $295.00 against the US Dollar and unable to find a certain direction.
ETH/USD continues to move inside a crucial range with support above $275.00 and resistance near $320.00.
ETH/BTC extended its recovery by roughly 2% above 0.071BTC.

Technically, the 4-hour chart indicators are stable and placed well above their midlines in the bullish territory.

Ether Price Extended Range

ETH/USD maintains a neutral short-term stance, trading above its 50 SMA and 20 SMA in the 4 hours chart, yet both moving averages lack bullish directional strength.

Ethereum ETH/USD Forecast

On the other hand, the ETH/BTC pair after declining sharply from well above 0.080BTC to 0.070BTC finally found support and currently correcting higher towards 0.074BTC.

Let’s start with the 4-hour chart of ETH/USD that clearly highlights an extended range with resistance near $320.00 and support above $275.00. The pair recently formed an inverted hammer candle around $310.00 and started a downside move.

It recently broke a connecting bullish trendline at $299.00. However, the downside move was restricted due to limited directional strength.

On the upside, there is a bearish trendline positioned at $305.00. A successful close above $305.00 would open the doors for an upside extension towards the range resistance of $320.00.

Ether Price Technical Analysis

Moving on to the hourly chart of ETH/USD, the pair recently broke a major support level at $299.00. The mentioned $299.00 is currently acting as a resistance and protecting gains.

However, the pair recently tested the $290.00 support and the 61.8 percent Fibonacci retracement level of the last wave from the $280.46 low to $310.25 high. Therefore, there are chances that Ether would break $299.00 and move towards the next resistance at $305.00.

In the same chart, the price action suggests a neutral-to-bearish bias and lack of directional strength. A bearish extension could be seen on a break below $290.00, while a break above $299.00 should favor additional gains for today, yet still remain limited to the $310.00 price zone.

Important Resistance Levels

$299.00 and $305.00

Important Support Levels

$290.00 and $275.00

Hourly RSI

The RSI is moving higher towards the 50 level.

Hourly MACD

The MACD is slightly in the bearish zone with a lack of momentum.
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

Today ETH/USD Forecast: Ethereum Price Struggles near $298-$300
08-20-2017 ETH/USD Forecast: Ether To Keep Rising
08-19-2017 ETH/USD Forecast: Range Trading Continues
08-18-2017 ETH/USD Forecast: Bullish Sentiment Unchanged
   

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