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Ether Price Analysis
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Ethereum Forecast: ETH/USD Neutral Short Term





Ether is in the bullish zone against the US dollar while struggling versus bitcoin. ETH/USD needs to break $302.00 and $305.00 levels to gain momentum.

Key Highlights

Ether is holding a few major supports such as $297.00 and $285.00 against the US dollar.
There is a bullish trendline forming with support at $297.00 on the 30-minute chart of ETH/USD.
ETH/BTC remains in the bearish zone with no real sign of a recovery.

Technically, the 30-minute chart indicators are stable with a slightly bullish tone above their midlines.

Ether Price Remains Flat

Yesterday, we saw a recovery above $295.00 in ETH/USD. The pair traded above $300.00 but failed to maintain its bullish tone above the $305.00 level.

Ether Price Analysis Chart

On the other hand, there was no relief for ETH/BTC buyers as the pair remained in the bearish zone. The most important support on the downside is at 0.060BTC.

Looking at the 30-minute chart of ETH/USD, there is a range forming above a bullish trendline with support at $297.00. The trendline protected a downside break on a few occasions and is currently holding gains above $297.00.

On the upside, there is a key barrier forming at $302.50. Should there be a break above $302.50, the price could attempt another break of the recent high at $305.81.

The 2-hour chart of ETH/USD suggests that there is a major bearish trendline with current resistance at $302.00. Therefore, a successful close above the trendline resistance will most likely clear the way for a test of $313.00.

Ethereum Price ETH/USD Forecast

In the event that Ether’s price goes lower from the $302.00 resistance zone, the first line of defense for buyers would be $297.00. Any potential breakdown below that point could see ETH/USD make a move towards $285.00.

Alternatively, if Ether breaks through the $302.00-302.50 resistance zone then this could pave the way for a rise towards $305.80 resistance next and possibly another re-test of $313.00.

In the medium term, ETH/USD is placed at an important technical juncture for a possible upside break towards $400.00.

Important Resistance Levels

$302.50 and $313.00

Important Support Levels

$297.00 and $285.00

30-minute RSI

The RSI is currently above 50 and approaching the 65 level.

30-minute MACD

The MACD is slowly gaining pace in the bullish 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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