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 Forecast: ETH/USD Reverses Gains, What’s Next?

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether moved in the bearish zone against the US dollar and bitcoin. ETH/USD might extend declines if buyers fail to hold the $400.00 support.

Key Highlights

Ether topped around the $515.00 level against the US dollar and declined sharply.
There is a major bearish pattern forming below $450.00 on the 6-hour chart of ETH/USD.
ETH/BTC is heading toward the 0.0420BTC support area which holds a lot of importance.

Technically, the 2-hour chart indicators are now well in the bearish territory.

Can ETH/USD Recover?

It was a bad day in the office for Ether buyers as ETH/USD made a sharp bearish turn from the $515.50 high. The pair broke the $450.00 level and is indeed struggling to hold the $400.00 level.

ETH/BTC extended declines and failed to remain above 0.0450BTC. It is now heading toward the next major support at 0.0420BTC, which must hold further declines in the near term.

Ether Price Analysis Chart

Looking at the 2-hour chart of ETH/USD, the pair failed to stay above an important support area near $460.00 and $450.00. There were two large bearish candles formed, which suggests an increase in selling pressure on Ether’s price.

The price even traded below the $400.00 level and is currently struggling to stay above the stated level. The $400.00 support is crucial for further declines. Should there be a daily close below $400.00, the price could decline toward the next support at $350.00.

On the upside, the broken support at $450.00 has turned into a major resistance. Buyers will most likely struggle to push the price above $450.00. Moving on to the 6-hour chart of ETH/USD, there was a break below a key bullish trendline with support at $465.00.

Ethereum Price ETH USD Forecast

The 6-hour chart suggests that the pair is now in the bearish zone below $450.00 and is eyeing a test of the $350.00 support.

To sum up, the recent decline has pushed buyers on the back foot. However, if ETH/USD survives a daily close above $400.00, it could trade in a range before making an upside move toward $450.00.

Important Resistance Levels

$450.00 and $480.00

Important Support Levels

$400.00 and $350.00

2-Hour RSI

The RSI is now in the oversold levels at 20-25.

2-Hour MACD

The MACD has turned sharply into the bearish 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.