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 ---
--%
Sunday Dec 17th 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

ETH/USD Forecast: Ether Price to Retest $500?

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether’s price is eyeing further gains against the US Dollar and bitcoin. ETH/USD is likely to accelerate further toward the all-important $500.00 level.

Key Highlights

Ether is gaining upside momentum and it will most likely retest the $500.00 level against the US Dollar.
There is a crucial ascending channel forming with support at $448.00 on the hourly chart of ETH/USD.
ETH/BTC is stable above the 0.0420BTC support and is preparing for an upside correction.

Technically, the hourly chart indicators are gaining strength in the bearish territory.

Ether Price Remains in Uptrend

Ether buyers are in action as ETH/USD moved above the $460.00 resistance and is currently showing a lot of bullish signs. On the other hand, the ETH/BTC pair is consolidating above the 0.0420BTC support.

Ether Price Analysis Chart

Starting with the hourly chart of ETH/USD, there is a clear uptrend forming with supports near $448.00 and $425.00. There seems to be a crucial ascending channel in place with support at $448.00, which is likely to provide good support in the short term.

The pair is currently above the 50 percent Fibonacci retracement level of the last major correction from the $515.50 high to $394.11 low. Therefore, Ether’s price will most likely accelerate higher toward $475.00 and $480.00 in the near term.

At present, the pair is finding offers near the 61.8 percent Fibonacci retracement level of the last major correction from the $515.50 high to $394.11 low and the $470.00 resistance area. Above the mentioned $470.00 resistance, the channel upper trendline at $475.00 could act as a resistance.

Ethereum ETH USD Forecast

Should there be a break above $475.00, the price would surge toward the all-important $500.00 level. However, the 4-hour chart of ETH/USD suggests that the $475.00-480.00 resistance holds a lot of importance and it won’t be easy for buyers to break it.

The overall trend is bullish and Ether’s price could move higher toward $475.00-480.00 resistance, with a chance of a spike toward the $500.00 handle.

Important Resistance Levels

$470.00 and $480.00

Important Support Levels

$448.00 and $425.00

Hourly RSI

The RSI is heading higher toward the 70 level.

Hourly MACD

The MACD is gaining momentum 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.