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 Dec 15th 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

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 Weekly Forecast: ETH/USD Primed for Further Gains

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether is in a crucial uptrend against the US Dollar and bitcoin. ETH/USD is positioned well above $400.00 and poised to test $500.00 in the near term.

Key Highlights

Ether remained in a major uptrend and traded higher by more than 25 percent this past week against the US Dollar.
There was a break above a major ascending channel with resistance at $405.00 on the 12-hour chart of ETH/USD.
ETH/BTC closed the week above 0.050BTC which is a positive sign in the short term.

Technically, the 12-hour chart indicators are retreating from the overbought levels in the bullish territory.

Ether Price Correction to be Limited

It was a great week for Ether as both ETH/USD and ETH/BTC gained bullish momentum. ETH/USD traded to a new all-time high at $483.51 and is currently positioned well in the bullish zone.

Ethereum Price ETH USD Weekly Forecast

ETH/BTC recovered well from 0.042BTC and managed to move above the 0.050BTC resistance. The pair is currently correcting lower with supports near 0.050BTC and 0.048BTC.

ETH/USD made good ground this past week and was able to move above a crucial resistance near $400.00. There was a break above a major ascending channel with resistance at $405.00 that cleared the way for further gains.

The price traded above the $460.00 resistance and formed a new all-time high at $483.51. At the moment, the pair is correcting lower toward $450.00, which serves as an initial support. Should there be a close below $450.00, Ether’s price might attempt a broader correction back toward the $425.00 support area.

Moving on to the 2-hour chart of ETH/USD, there is a descending channel forming with support near $450.00.

Ether Price Weekly Analysis Chart

Below $450.00, there is a bullish trendline with support at $444.00. A close below $444.00 would take the price toward the $425.00 horizontal support, which holds a lot of importance in the short term.

The overall short-to-medium term trend is bullish above $400.00. ETH/USD could correct in the short term, but price dips will most likely find support near $425.00. On the upside, resistances are at $480.00 and $500.00.

Weekly Resistance Levels

$480.00 and $500.00

Weekly Support Levels

$450.00 and $425.00

12-Hour RSI

The RSI is correcting the overbought levels and is currently near 70.

12-Hour MACD

The MACD is strongly placed 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.