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 To Break $10.00 Soon?

By

Aayush

Jindal

Guest AnalystETHNews.com

ETH/USD declined over the weekend, and failed to correct higher. It currently remains at a risk of a break below a major support area at $10.00.

Key Highlights

Ether price remained in the bearish zone versus the US Dollar and Bitcoin, and looks set for more declines.
The ETH/USD pair is currently struggling to hold the all-important $10.00 support area.
A daily close below $10.00 could be a strong bearish sign, which may push the pair towards $8.50-9.00

Technically, the 4-hours chart suggest an increase in the bearish momentum on the MACD.

ETH/USD Declining Streak

The recent declining streak in Ether price extended during the past 12 hours against the US Dollar and Bitcoin. The ETH/USD pair attempted to move higher once, but failed near $10.40, and similarly ETH/BTC was under heavy selling pressure.

Ether Price Analysis Chart

The hourly chart of ETH/USD points how the pair is continuously declining, and every correction faced resistance on the upside. A break below the $10.40 level boosted the downside move, and took the price towards the $10.00 handle.

There is a bearish trend line formed on the same chart, which is currently acting as a resistance and preventing an upside move. Now, we all know how important the $10.00 area is. So, there is now a bearish trend line at $10.15, and $10.00 on the downside as a support.

A break is very likely in the near term, and if ETH/USD clears trend line, the next resistance on the upside could be around $10.40. It was a support recently, and may act as a barrier for further gains.

Ethereum ETH to USD Forecast

On the downside, a break below $10.00 will worry me a bit, as it could put Ether price under a lot of selling pressure. The 4-hours chart of ETH/USD shows that the price recently closed below a major support area.

So, it largely increases the chances of a downside break. We need to keep a close eye on $10.00, as it may play a major role in the near term.

Important Resistance Levels

$10.40 and $10.80

Important Support Levels

$10.00 and $9.60

Hourly RSI

The RSI technical indicator is currently in the oversold area, so there can be a minor bounce.

Hourly MACD

The MACD is strongly placed in the bearish zone, and calling for more declines.

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.