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Ether Price Analysis
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ETH/USD Forecast: Ethereum Price Sticks To Bullish Bias





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.

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