Key Highlights
Ether remained in the bullish zone, but struggled to move past $300.00 against the US dollar.
There is a crucial support forming near $275.00-$265.00 on the 2-hour chart of ETH/USD.
ETH/BTC is stable above 0.070BTC and is eyeing further upsides in the short term.

Technically, the 30-minute chart indicators are moving back in the bullish territory.

Ether Price Dips Remain Supported

The ETH/USD pair was neutral during the past 2-3 sessions and failed to settle above an important resistance area near $295.00-$300.00.

Ether Price Analysis Chart

In yesterday’s analysis, we saw a connecting resistance trendline at $302.00 on the 2-hour chart of ETH/USD. It acted as a hurdle for further upsides and prevented buyers from gaining momentum above $300.00.

There was a rejection noted from the trendline resistance and the pair moved down towards the 23.6 percent Fibonacci retracement level of the last leg up from the $200.91 low to $300.37 high.

However, the downside move was well supported above $275.00. It seems like there is a solid support forming near $275.00-$265.00 on the same chart and a downside break won’t be easy in the short term.

On the upside, an initial resistance is at $300.00, followed by the same trendline with current resistance at $312.00. On the flip side, a break of the $265.00 support would clear the way for further losses towards the 50 percent Fibonacci retracement level of the last leg up from the $200.91 low to $300.37 high around $250.00.

Ethereum Price ETH/USD Forecast

Dropping down to the 30-minute chart of ETH/USD, the pair failed two times near $300.00 and later traded below a bullish trendline with support at $290.00.

At the moment, the pair is resuming its upside and following a short-term bullish trendline with support at $288.00. It seems like Ether buyers are lacking momentum and searching for a reason to retake the $300.00 resistance.

Overall, the ETH/USD pair would need to advance through the $300.00 resistance to gather enough upward momentum to extend its advance towards $312.00-$315.00. Alternatively, an immediate support comes at the $275.00 region, followed by $265.00.

Important Resistance Levels

$300.00 and $312.00

Important Support Levels

$275.00 and $265.00

30-minute RSI

The RSI is just above the 50 level and is stable.

30-minute MACD

The MACD is in the bullish zone, but lacks momentum.
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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 Ethereum Forecast: ETH/USD Pressured Below $300
09-20-2017 ETH/USD Forecast: Ethereum Price Sticks To Bullish Bias
09-19-2017 Ethereum Price Needs To Retake $300
09-18-2017 ETH/USD Forecast: Ethereum Price Firms above $275
   

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