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 ---
--%
Saturday Nov 25th 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 Building On Bearish Momentum

By

Aayush

Jindal

Guest AnalystETHNews.com

ETH/USD held the $11.20 support zone one more time, but it needs a catalyst before it can recover above the $11.60 resistance.

Key Highlights

Ether price made a lower low against the US Dollar, signaling a continuation of the bearish trend.
The ETH/USD pair broke the last swing low of $11.29 to form a new minor low of $11.26.
The pair looks like building on the bearish momentum below $11.60, and may form another lower low below $11.26.

Technically, the pair is sustaining its move below 21-hour SMA and hence, seems more likely to extend its near-term downward trajectory.

ETH/USD Eyeing $11.120?

Ether price made another run towards the $11.20 support area against the US dollar yesterday, but failed to test it. There was a new low formed at $11.26, which can be considered as a lower low and a failed attempt to surpass the $11.20 support.

Ether Price Analysis Chart

The price moved back higher, but could not sustain the bullish momentum, and found resistance near $11.60. There is a bearish trend line formed on the 30-min chart of ETH/USD, acting as a hurdle for an upside move. It prevented gains on more than three occasions, and as a result, there was a downside reaction.

The ETH/USD pair recently broke the 50% Fibonacci retracement level of the last wave from the $11.26 low to $11.58 high. It means the pair may have just completed a correction pattern, and could retest the last swing low of $11.26.

Ethereum ETHUSD Pair Chart

There is even a chance of creating another lower low below $11.26. In that situation, it would be interesting to see how the $11.20 support performs. It is likely to act as a critical barrier for any major downsides.

When we look at the 2-hours chart of ETH/USD, there is a clear bearish trend. There are two resistance trend lines, contributing to the pair's bearish momentum during the course of the week. The only hope for buyers lies with the $11.20 support.

Major Resistance Levels

$11.50 and $11.60

Major Support Levels

$11.20 and $11.00

30-min RSI

The RSI technical indicator failed to gain pace, and now heading lower towards the 30 level.

30-min MACD

The MACD after showing a few positive signs now back into 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, 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 Chart, Ether Price 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.