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Ether's price is getting ready for the next break against the US dollar. The ETH / USD could fall below the support of $ 400.00 or pass above $ 412.00-420.00 to gain bullish momentum.
Key Points
Ether's price did not gain more than $ 413.00 and fell against the US dollar.
the trend line is in place with resistance to $ 412.00 on the 2-hour chart of the Eth / USD.
ETH / BTC is holding gains above 0.0580BTC and could move slowly towards 0.0600BTC.
Technically, the 30-minute chart indicators are moving further down the bearish territory.
Analysis of the prices of the ether
There was an increase above the level of $ 410.00 in ETH / USD. However, the pair failed to keep earnings, formed an intraday high at $ 413.17, and finally declined again below $ 410.00.
On the other hand, ETH / BTC mostly traded in a range above the 0.0580BTC level. The pair is facing an uphill task near the 0.0600BTC resistance where sellers could eventually emerge.
Starting from the 30-minute chart of the ETH / USD, the pair moved well over the $ 410.00, but failed to cancel the level of $ 413.00. A new bearish wave has begun and the price has fallen below the support of $ 408.00 and a bullish uptrend line.
Ether also broke the Fibonacci 50% retracement level of the recent rise from $ 401.997 to $ 413.17 below, opening the door to further losses to the last minimum at $ 401.97.
If the price was higher, broken media at $ 408.00 and $ 410.00 will probably prevent further gains. Above $ 410.00, there is a downtrend line with resistance to $ 412.00 on the 2-hour chart of Eth / USD.
The chart indicates that the price is traded in a contract range with resistance close to $ 412.00 and support for $ 400.00. A bullish break above $ 412.00 and $ 420.00 could encourage Ether buyers to gain traction and push the price even higher.
In contrast, a downward break below $ 400.00 could possibly increase sales pressure and the price could extend losses to $ 380.00 and $ 365.00. Overall, the next move in ETH / USD depends on whether the pair exceeds the $ 412.00 and $ 420.00 resistors.
Important Strength Levels
$ 410.00 and $ 412.00
Important Support Levels
$ 402.00 and $ 400.00
30-minute RSI
L & # 39; RSI is currently below level 35 with a bearish angle.
30-minute MACD
The MACD is gaining momentum in the bearish zone.
Aayush spent over seven years as a financial commercializes contributor and observer. 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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