Etereum Price Forecast: Ether Eyes Next Break


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.

  Chart of the analysis of the price of the ether

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.

  Price Analysis of Ethereum ETH

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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