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 Jun 22nd 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

ETH/USD Forecast: Ether Struggling to Surpass $750

By

Aayush

Jindal

Guest AnalystETHNews.com

Ether started a downside correction against the US Dollar while remaining stable versus bitcoin. ETH/USD is approaching a major support that must protect declines.

Key Highlights

Ether’s price failed to move above the $750.00 resistance and started declining against the US Dollar.
There was a break below a key ascending channel with support at $722.00 on the hourly chart of ETH/USD.
ETH/BTC is stable above the 0.0500BTC support which is a positive sign.

Technically, the 4-hour chart indicators are moving lower in the bullish territory.

Ether’s Price to Correct Further?

Yesterday, we discussed the $750.00 resistance. ETH/USD failed to move above the stated $750.00 resistance and started a downside correction.

On the flip side, ETH/BTC is holding the 0.0500BTC support. The pair has to stay above the mentioned level to gain traction toward the 0.0550BTC level.

Ether Price Analysis Chart

Looking at the hourly chart of ETH/USD, there are a few short-term bearish signs. First, there was a break below a key ascending channel with support at $722.00. Second, the last 4-5 candles point to increase in selling pressure. Lastly, the pair has moved below the 50 percent Fibonacci retracement level of the last wave from the $670.94 low to $754.85 high.

The pair is currently below the $700.00 level and remains at a risk of further downsides toward the next major support at $670.00-675.00.

The 4-hour chart of ETH/USD suggests that the pair failed to break an important bearish trendline with current resistance at $750.00. On the downside, there is a connecting bullish trendline at $650.00. However, there is a key support at $600.00 that will most likely prevent further declines in the near term.

Ethereum ETH USD Forecast

It seems like Ether’s price would continue to trade in a range of $650.00 and $750.00 in the short term. A successful 4-hour close on either side could open the doors for the next major wave either above $800.00 or below $600.00.

In the short term, ETH/USD could bounce back after testing the $670.00-675.00 support region.

Important Resistance Levels

$720.00 and $750.00

Important Support Levels

$675.00 and $650.00

Hourly RSI

The RSI is currently below 45 and is heading south.

Hourly MACD

The MACD has moved away from the bullish to 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.