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 ---
--%
Wednesday Aug 22nd 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

ETH/USD Forecast: Ethereum Price Sticks To Bullish Bias

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether is preparing for the next leg against the US dollar and bitcoin. ETH/USD buyers are waiting for a push above $290.00-$300.00 to gain momentum.

Key Highlights

Ether’s price is holding the $275.00 support against the US dollar, which is a bullish sign.
There is a short-term triangle forming with resistance near $290.00 on the hourly chart of ETH/USD.
ETH/BTC traded with range-bound moves around the 0.072BTC level.

Technically, the hourly chart indicators are moving to and fro above their neutral levels in the bullish territory.

Can Ether Price Make it?

We are still waiting for the ETH/USD pair to break the $295.00 and $300.00 resistance levels for further upsides. Recently, the pair slowly declined and moved towards the $275.00 support zone.

Ethereum Price ETH/USD Forecast

Looking at the hourly chart of ETH/USD, there is a decent horizontal support forming below $280.00, and the 23.6 percent Fibonacci retracement level of the last wave from the $200.91 low to $300.37 high is holding losses pretty well.

On the upside, there is a bearish trendline forming with current resistance around $290.00. Therefore, there is a contracting triangle in the making, with horizontal support near $275.00 and a bearish trendline as resistance.

A successful close above the triangle resistance would be the first bullish sign for a push above $300.00. On the other hand, should buyers fail to defend $275.00, Ether’s price could decline towards the next important support of $265.00.

Ether Price Analysis Chart

The 4-hour chart of ETH/USD suggests a positive bias above $275.00. There was a break above a bearish trendline at $278.00, and the same trendline is currently holding losses below $275.00.

To the upside, there is another bearish trendline with resistance near $290.00. Overall, it seems like the current range breakout resistance is also around $290.00. A 4-hour close above $290.00 would open the doors for further gains in the near term.

In the short term, ETH/USD should keep trading in a range of $290.00-$275.00. Indicators are still mostly flat, which suggests further consolidation before the next move.

Important Resistance Levels

$290.00 and $300.00

Important Support Levels

$275.00 and $265.00

4-Hour RSI

The RSI is placed well above the 50 level.

4-Hour MACD

The MACD is showing signs of trend exhaustion.

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.