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

Can Ether Price Sustain Further Losses?

By

Aayush

Jindal

Guest AnalystETHNews.com

ETH/USD remained in the bear trend, and it looks like the pair is in the 5th wave which may ignite further declines going forward.

Key Highlights

Ether price after a minor recovery found resistance against the US Dollar, and traded lower.
The ETH/USD pair formed a higher low, suggesting a bearish trend in the short term.
There are many resistances on the way up for ETH, and a recovery won’t be easy.

Technically, the 12-hours suggests a channel formation with the pair testing support zone.

ETH/USD Trend Analysis

There was another attempt by Ether price to trade higher versus the US Dollar, but it failed to retain the traction. The price formed a higher low, and faced resistance near the $10.65-70 levels.

Ether Price Analysis Chart

Looking at the hourly chart, it is quite clear that there are many hurdles for the ETH/USD pair on the upside. First, there are two bearish trend lines coinciding at $10.60. Second, the previous support turned resistance at $10.75-80. Third, the 61.8% Fibonacci retracement level of the last decline from the $11.02 high to $10.24 low.

The last four hourly candles were bearish, and pointing towards the amount of bearish pressure on ETH/USD. Furthermore, the price is forming a higher-low pattern, which means there is a chance of a dip towards the last swing low of $10.24.

Ethereum ETH/USD Forecast Chart

When we look at the wave count, the price is currently in the 5th wave, having the potential of further losses. Let us look at a higher timeframe chart to know better. The 12-hours chart of ETH/USD is constructive, and there is a sideline channel pattern formed.

The pair is currently trading near the channel support area. So, there can be two possibilities. The price may break it for a move towards $10.00 or it can bounce and attempt to recover some ground. The chances of a downside move are more since the indicators are pretty bearish and not signaling any kind of recovery at the moment.

Important Resistance Levels

$10.65 and $10.80

Important Support Levels

$10.25 and $10.00

12-hours RSI

The RSI technical indicator is below the 50 level and pointing south.

12-hours MACD

The MACD is almost flat, but with slight bearish momentum.

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.