Technically, almost all indicators are now heading north, which is a bullish sign in the near term.

Change in Trend for ETH/USD?

Yesterday, I mentioned that that nothing goes up or down in a straight line, and Ether will sooner or later find support for a recovery. It did find support recently versus the US Dollar, and moved higher. Almost all lower timeframe charts are signaling a change in trend.

Ethereum Ether Price Technical Analysis

Let us start with the 30-min chart of ETH/USD. There was a bearish trend line formed as highlighted in yesterday’s analysis. The ETH bulls managed to break it, and took the price higher. The last 3-4 candles on the chart looks pretty bullish, and signaling more gains in the near term.

The same broken trend line may now act as a support zone for ETH. Moreover, the pair is now above the $10.80 level, which can also act as a buying are for the bulls.

Ether Price ETH Trend Chart

No doubt, there are many positive signs emerging on the charts. Like, the 4-hours chart as well is pointing a break. There was a monster bearish trend line connecting the $12.82 high, which was cleared during the recent upside move.

However, we need to wait for the current 4-hour candle close. It should be above the trend line to signal a change in bias from bearish to bullish. Going forward, it may depend on buyers’ sentiment. If the bulls fail to gain momentum, then the recent break might turn into a false move.

Important Resistance Levels
$11.40 and $11.60
Important Support Levels
$10.80 and $10.60
30-min RSI
The RSI technical indicator is around the overbought levels, which may ignite a minor downside correction.
30-min MACD
The MACD is strongly bullish and signaling further gains in ETH/USD.
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 Bears Gather Pace, Prints Fresh 9-Month Lows
08-21-2016 ETH/USD Weekly Forecast – More Gains Expected
08-20-2016 Ether Price Surges Higher On Loss Of Downside Momentum
08-19-2016 ETH/USD – Ether Sell-Off To Continue?
   

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