Key Highlights
Ether buyers outpaced sellers and pushed the price above $275.00 against the US dollar.
There was a break above two key bearish trendlines near $260.00 on the 2-hour chart of ETH/USD.
ETH/BTC gained bids overnight and managed to move above the 0.070BTC resistance.

Technically, the 2-hour chart indicators are gaining momentum in the bullish territory.

Ether Price to Surpass $300

In the weekly forecast of ETH/USD, we discussed two important resistance levels ($275.00 and $295.00). The pair succeeded in gaining bids overnight and broke the $275.00 resistance and is currently eyeing a close above $295.00.

Ethereum Price ETH/USD Forecast

Similarly, the ETH/BTC pair climbed 5 percent and was able to break the 0.070BTC resistance, opening the doors for further recoveries.

Looking at the 2-hour chart of ETH/USD, the pair is up by more than 18 percent and breached the 61.8 percent Fibonacci retracement level of the last drop from the $316.17 high to $200.91 low at $272.00.

Ether buyers succeeded in breaking two key bearish trendlines near $260.00 on the same chart. These are great bullish signs. Having said that, the price is now attempting to settle above another important hurdle near $295.00 and the 50 percent Fibonacci retracement level of the last major drop from the $395.41 high to $200.91 low.

Above $295.00, there is a connecting resistance trendline positioned at $302.00 to stop the upside move. A successful close (2-hour) above $295.00 followed by a break of $302.00 would set the tone for further gains in the near term.

Ether Price Analysis Chart

On the downside, there is a bullish trendline forming with support near $280.00. Moreover, the previous resistance $275.00 is now a major support.

Moving on to the 6-hour chart of ETH/USD, the pair is attempting a close above a crucial resistance zone at $275.00. Should there be a 6-hour close above $275.00, the pair would gain bullish momentum to surpass sell offers near $302.00.

To sum up, ETH/USD would soon attempt a close above $300.00 (2-hour) which could be an opening towards the next barrier at $315.00.

Important Resistance Levels

$302.00 and $315.00

Important Support Levels

$280.00 and $275.00

2-hour RSI

The RSI is about to reach overbought levels.

2-hour MACD

The MACD is now strongly moving in the bullish zone.
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

10-22-2017 Ethereum Weekly Forecast: ETH/USD Holding Key Trend Support
09-19-2017 Ethereum Price Needs To Retake $300
09-18-2017 ETH/USD Forecast: Ethereum Price Firms above $275
09-17-2017 ETH/USD Weekly Forecast: Ethereum Price Remains Vulnerable
   

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