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Ether Price Analysis
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Ethereum Price Forecast: Ether Stuck In Key Range





Ether’s price is finding it hard to break the $235.0-236.00 resistance against the US dollar. ETH/USD could dip in the short term if there is no close above $235.00.

Key Highlights

Ether’s price traded in a tight range above the $225.00 level against the US dollar.
A short-term bearish pattern is forming with resistance at $230.00 on the 2-hour chart of ETH/USD.
ETH/BTC tested the 0.0340BTC support and is currently consolidating.

Technically, the 2-hour chart indicators are slowly moving lower in the bearish territory.

Ether Price Analysis

During the past few hours, ETH/USD traded with a few bearish moves. The pair struggled to break the $235.00 resistance area and traded lower within a tight range.

ETH/BTC tested the 0.0340BTC support and recovered later. The pair could break the 00.0350BTC resistance and trade higher if ETH/USD gains bullish momentum in the coming sessions.

Ether Price Analysis ETH Ethereum

Looking at the 30-minute chart of ETH/USD, there was a downside reaction recently toward the $225.00 level. The pair traded as low as $224.79 and later bounced back above $230.00. However, Ether buyers failed to hold gains above the $230.00 level, and the price is currently following a declining channel with resistance near $230.00.

To recover, the price must break the $230.00 resistance, above which Ether will most likely retest the all-important $235.00 hurdle. Conversely, if the price continues to move down, it could test the $225.00 support.

Moving up to the 2-hour chart of ETH/USD, the pair clearly faced a strong resistance near the $235.00-236.00 zone. It is currently declining toward a crucial bullish trendline, with support at $221.00.

Ethereum Price Analysis

The technical structure suggests that Ether’s price is likely forming an ascending triangle, with the breakout resistance at $238.00. A successful close above the stated triangle resistance could open the doors for the next major upward move toward $250.00 and $275.00.

On the flip side, a bearish break below the trendline and the $220.00 support may clear the path for Ether sellers to take control for a test of the $200.00 pivot level.

Important Resistance Levels

$230.00 and $235.00

Important Support Levels

$225.00 and $220.00

2-hour RSI

The RSI is currently flat near the 45 level.

2-hour MACD

The MACD is slightly placed in the bearish zone.

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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