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 Declines Remain Limited

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether is correcting lower against the US dollar but forming a bearish bias versus bitcoin. ETH/USD declines should be limited by $450.00 and $425.00 supports.

Key Highlights

Ether failed to hold the $470.00 support and moved down against the US dollar.
There was a break below a key bullish trendline with support around $470.00 on the 2-hour chart of ETH/USD.
ETH/BTC extended declines and is moving toward the 0.0450BTC support.

Technically, the 6-hour chart indicators are moving lower in the bullish territory.

Ether Price to Bounce Back Soon

Yesterday, we discussed an important support area near $472.00-$470.00 in ETH/USD. The pair failed to stay above $470.00 and declined toward $460.00.

Ether Price Analysis Chart

Looking at ETH/BTC, there was no recovery and the pair extended declines below 0.0480BTC. The next major support on the downside is close to 0.0450BTC.

The 2-hour chart of ETH/USD suggests that the pair is struggling to move above $490.00 to test $500.00. It started a downside correction and settled below a key bullish trendline with support around $470.00. It opened the doors for an extended correction and the pair traded toward $460.00.

It seems like the 23.6 Fibonacci retracement level of the last wave from the $357.36 low to $490.34 high is acting as support near $460.00 and is preventing further declines.

Below $460.00, the next major support is at $450.00, which is the last swing low followed by a crucial support at $425.00. Looking at the 6-hour chart of ETH/USD, the pair seems to be consolidating recent gains above the $450.00 level.

Ethereum Price ETH USD Forecast

It is very unlikely that the pair would break $450.00 and $425.00 before making another upside attempt. Should there be a break below $425.00, Ether’s price could test a major bullish trendline with support at $410.00 on the same chart.

To sum up, the current price action is mostly corrective in nature and once a support base is formed, ETH/USD will most likely bounce back above $475.00 in the near term.

Important Resistance Levels

$480.00 and $490.00

Important Support Levels

$460.00 and $450.00

6-Hour RSI

The RSI is correcting lower and is moving toward the 55-50 levels.

6-Hour 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.