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 ---
--%
Wednesday Jan 24th 2018
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

Explanation

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

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

Ethereum Forecast: ETH/USD at Short-term Crossroads

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether is trading above key supports against the US dollar and bitcoin. ETH/USD must stay above $290.00 to challenge $311.00 once again.

Key Highlights

Ether succeeded in settling above the $290.00 pivot and avoided further declines against the US dollar.
ETH/USD is currently trading near a bullish trendline with support at $295.00 on the hourly chart.
ETH/BTC is holding gains and consolidating above the 0.041BTC level.

Technically, the 4-hour chart indicators are back in the bullish territory.

Can Ether Price Retest $311?

Yesterday, ETH/USD succeeded in holding the $290.00 support area and moved above the $300.00 handle. However, the upside move was capped by a minor resistance at $306.00-$307.00.

Ether Price Analysis Chart

Looking at the hourly chart of ETH/USD, the pair is showing a lot of bullish signs and positive price action from the $276.83 low. It recently traded above the $300.00 handle and formed a new intraday high at $307.59 before starting a short-term correction.

During the recent correction, the pair broke the 23.6 percent Fibonacci retracement level of the last wave from the $276.83 low to $307.59 high. Moreover, there was a break below a connecting bullish trendline at $300.00 on the same chart.

However, the downside move was protected by another bullish trendline with current support at $295.00. Ether is likely to hold the mentioned trendline support at $295.00. Should there be a break below $295.00, there can be a test of the $290.00 pivot level (acted as support and resistance on many occasions).

The 50 percent Fibonacci retracement level of the last wave from the $276.83 low to $307.59 high near $292.00 is also an important support before $290.00.

Ethereum Price ETH/USD Forecast

Moving on to the 4-hour chart of ETH/USD, there is broad range forming with support at $275.00 and resistance at $311.00. An intermediate pivot is at $292.00-$290.00. The pair is currently approaching this range, which would either prevent declines or ignite a downside reaction toward $275.00.

To sum up, there can be more ranging moves in Ether’s price before ETH/USD makes the next move either above $311.00 or below $275.00 in the near term.

Important Resistance Levels

$307.00 and $311.00

Important Support Levels

$292.00 and $290.00

4-Hour RSI

The RSI is currently heading toward the 50 level.

4-Hour MACD

The MACD is now placed well 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, 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.