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.
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.

Ether Technical Analysis

10-22-2017 Ethereum Weekly Forecast: ETH/USD Holding Key Trend Support
10-12-2017 Ethereum Forecast: ETH/USD’s Upside Is Favored
10-11-2017 Ethereum Forecast: ETH/USD Neutral Short Term
10-10-2017 Ethereum Forecast: ETH/USD Correction May Be Over
   

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