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

ETH/USD Continues to Fail Near Range Resistance

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether price is currently trading in a range against the US dollar, and it looks like ETH/USD is preparing for an upside move.

Key Highlights

Ether price after a minor decline towards $8.00 against the US dollar started trading in a range.
The ETH/USD pair is currently facing a monster resistance near $8.30.
A channel pattern is formed on the hourly chart, which may provide us the next break in the short term.

Technically, the hourly chart indicators are neutral at this moment, but may be turning south.

Ether price Range Trading

There were only ranging moves in Ether price from the last few sessions against the US Dollar. After a test of the $8.00 support area the price recovered and started consolidating in a range. The range pattern is clearly visible on the hourly chart of ETH/USD.

Ether Price Analysis Chart

On the upside, the range resistance is near $8.30, and on the downside support lies at $8.00. The number of attempts to trade higher were more compared with the number of support tests.

It means, ETH/USD is trying its best to trade higher and break the range resistance area for further gains in the short term. The range resistance is also important, as it is just around the 38.2% Fibonacci retracement of the recent decline from the $8.70 high to $8.00 low.

A break above the highlighted resistance area might call for more gains. The next resistance could be around the 50% Fibonacci retracement of the recent decline from the $8.70 high to $8.00 low at $8.35.

When we have a look at the 4-hours chart of ETH/USD, the $8.80 resistance is visible. I mentioned in the last analysis as well that the stated resistance is a major hurdle on the upside for the Ether.

Ethereum ETH/USD Forecast

So, if there is a break above $8.25 and $8.35, the next major stop could be bear $8.80. On the downside, the $8.00 support holds the key.

We need to see how long the price may consolidate before moving in the next direction.

Important Resistance Levels

$8.30 and $8.80

Important Support Levels

$8.00 and $7.80

Hourly RSI

The RSI technical indicator is currently below the 50 level, but not signaling bearish continuation.

Hourly MACD

The MACD is slightly in the bullish slope with no momentum.

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.