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 ---
--%
Tuesday Nov 20th 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 Could Continue To Trade Higher

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether gained traction above $360.00 against the US dollar while remaining stable versus bitcoin. ETH/USD is now well supported above $340.00 for further upsides.

Key Highlights

Ether made a nice upside move and traded above $370.00 against the US dollar before correcting lower.
There is a major support area forming near $340.00 on the 4-hour chart of ETH/USD.
ETH/BTC is stable around 0.044BTC but shows no sign of a bullish move.

Technically, the 4-hour chart indicators remain elevated in bullish territory.

Ether Price Remains Supported

The past three sessions were very bullish for ETH/USD as the pair was able to move above the $360.00 level. A new monthly high was formed at $371.00 before a short-term correction was initiated.

Ether Price Analysis Chart

Looking at the hourly chart of ETH/USD, there were back-to-back bullish candles which pushed the pair above the $370.00 level. Later, buyers struggled to retain momentum and the pair corrected below the 23.6 Fibonacci retracement level of the last wave from the $325.39 low to $371.00 high.

However, the downside move was protected by a crucial bullish trendline with current support at $355.00. There was a test of the 50 Fibonacci retracement level of the last wave from the $325.39 low to $371.00 high.

It seems like Ether completed a short-term correction near $348.00-350.00 and is currently following the trendline closely. On the upside, there is a connecting bearish trendline forming with resistance at $362.00.

A successful close above $362.00 would mean that the stated correction is over and Ether’s price will most likely resume its uptrend above $365.00 in the near term.

Should there be a break of the $355.00 support, the price could test the $340.00 support area and the 61.8 Fibonacci retracement level of the last wave from the $325.39 low to $371.00 high.

Ethereum Price ETH USD Forecast

The 4-hour chart of ETH/USD shows the importance of the $340.00 support area. There is a bullish trendline with horizontal support near $340.00.

Therefore, any major dips from the current levels are likely to find buyers near $340.00. The overall trend remains bullish with resistances near $362.00 and $371.00.

Important Resistance Levels

$362.00 and $371.00

Important Support Levels

$355.00 and $340.00

Hourly RSI

The RSI is currently near 62 and is moving north.

Hourly MACD

The MACD remains well positioned 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. He strives to provide entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession and loves blogging.

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.