Prediction of Ethereum prices: ethereal reinforcement for the next crucial break

Key points

The price of Ether is trading in an interval below the resistance of $ 102.00 compared to the US dollar.

Two downtrend lines were formed with resistance at $ 92.00 and $ 98.00 on the 2-hour chart of Eth / USD.

ETH / BTC is probably preparing for an upward correction towards resistance 0.0280BTC.

Technically, the 12-hour chart indicators are slowly correcting higher in bearish territory.

Weekly analysis of the price of the ether

Last week there was a sharp decline in the Eth / USD below the support of $ 102.00. The pair dropped below the $ 100.00, $ 90.00 and $ 85.00 support levels and formed a new monthly minimum at $ 82.37.

ETH / BTC also dropped sharply below support levels 0.0285BTC and 0.0280BTC. The pair even broke the 0.0260BTC support and tested 0.0250BTC. Subsequently, the pair started a bullish correction above 0.0260BTC, and could continue to move higher towards 0.0280BTC.

Let's start with the 12-hour ETH / USD chart to understand the recent fall below support levels of $ 150.00, $ 125.00 and $ 102.00. The pair is currently consolidating losses above the minimum of $ 82.37, but earnings may be low.

On the upper side, an initial resistance is close to the $ 102.00 level (the previous support) and a downtrend line. The current price action indicates that Aero buyers could challenge close to the resistance levels of $ 100.00 and $ 102.00.

If Ether breaks the bearish trendline on the same chart, it is likely that the price will move towards the next major resistance, close to the $ 125.00 level. Turning to the 2-hour chart of Eth / USD, the pair is currently trading in a range below the $ 100.00 level.

Furthermore, there are two downtrend lines formed with resistance at $ 92.00 and $ 98.00. A positive hold above both trend lines and the Fibonacci 50% retracement level of the recent decline from the low of $ 121.00 to $ 82.37 minimum is needed for a good recovery in the near future.

Overall, Ether is reaching a crucial turnaround and will exceed the resistance of $ 102.00 or will fall below $ 82.00 for a & # 39; downward extension towards $ 70.00 or $ 65.00.

Aayush spent over seven years as a contributor and observer of the financial markets. He specialized in market strategies and technical analysis. It strives to provide entertaining and informative analyzes on the currency and commodity markets. He is a software engineer by profession and loves blogs.

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