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 ---
--%
Friday Nov 24th 2017
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

Event

Submit an event for consideration on ETHNews

Submit Event

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Events
Contact Us

Ether Price Sets Eye On $13.00

By

Aayush

Jindal

Guest AnalystETHNews.com

ETH/USD after a clear upside break yesterday posted a mild correction, and now Ether price looks set for another ride higher.

Key Highlights

Ether price yesterday’s upside move against the US Dollar and Bitcoin looks like real, as it remained in a bullish trend.
There was a minor correction in the ETH/USD pair, which found support near a bullish trend line on the hourly chart.
The pair is currently bullish on the 4-hours chart, signaling a possible move towards $13.00.

Technically, the hourly chart highlights a rejection near the $12.40 support zone.

ETH/USD Forecast

Yesterday, I highlighted how Ether price managed to post healthy gains and a major break against the USD and BTC. There was a break above a monster resistance area of $12.10 in ETH/USD, which opened the doors for further gains.

Ether Price Analysis Chart

The price after trading as high as $12.94 started a correction. During the correction, it tested the 38.2% Fibonacci retracement level of the last wave from the $11.80 low to $12.94 high where it found support. The stated Fib level also coincided with a bullish trend line on the hourly chart of ETH/USD.

The pair bounced from the highlighted bullish trend line, and during the recent upside move cleared a bearish trend line on the same chart. The stated break is a clear signal of rejection near the $12.40 support area, and it means the pair is now set for another upside move.

Ethereum ETH/USD Forecast chart

If the highlighted rejection pattern is valid, there is a chance of ETH/USD moving back towards the $12.80 level at least. And, if the Ether buyers step up the momentum, there is a possibility of the price heading towards the $13.00 handle.

The 4-hours chart also signals a major break above $12.10 yesterday. We can also notice that the last 4-hours candle is bullish, and pointing towards further upsides in the short term.

Important Resistance Levels

$12.80 and $13.00

Important Support Levels

$12.40 and $12.10

Hourly RSI

The RSI technical indicator just found support near the 50 level, which is matching with the highlighted rejection.

Hourly MACD

The MACD is shaping well in the bullish zone with no sign of a trend change.

Aayush Jindal

Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets

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.