Prediction of Ethereum prices: Can Ether Rebound?



Ether's price is slowly correcting itself against the US dollar. The ETH / USD may perhaps see further gains if it settles above the $ 365.00 level.

Key Points

Ether's price is experiencing strong buying interest close to significant support of $ 350.00 compared to the US dollar.

The 30-minute ETH / USD chart indicates a short-term bullish break above the resistance of $ 360.

ETH / BTC is currently consolidating in a range above support 0, 0550BTC.

Technically, the 2-hour chart indicators signal a new confident wave.

Analysis of the prices of the ether

Yesterday we discussed a significant support zone close to $ 350.00-360.00 for ETH / USD. The pair tested the $ 350.00 support and attempted a recovery, but progress was limited by the resistance of $ 365.00.

ETH / BTC found offers near the 0.0560BTC level and is currently trading in a range. The pair could correct higher to test the 0.0580BTC resistance.

  Ether Price Analysis ETH

Looking at the 30-minute ETH / USD chart, the pair tested the $ 350.00 support on two occasions and rebounded. It moved above the $ 356.00 level and traded a few points over $ 360.00. In addition, the price violated the 50 Fibonacci retracement level of the most recent decline from $ 369.36 to $ 348.53.

Ether buyers have managed to keep the price above $ 360.00, which is a positive sign. However, the price must be above $ 365.00 and a bearish trendline on the same chart to increase further.

If Ether fails to pay over $ 365.00, the price will most likely repeat $ 350.00. The next key support under $ 350.00 waits close to $ 340.00, which is a Fibonacci extension level.

  Ethereum Price Forecast ETH

Turning to the 2-hour chart of Eth / USD, it seems that the couple is preparing for the next break that could be towards $ 365.00 or $ 350.00.

Considering the current oversold conditions and technical structure, there are high probabilities of a move upward in Ether and a reasonable recovery towards $ 365.00 and $ 378.00 levels. If it continues to rise, the price could test the broken support at $ 400.00 (now resistance).

Important Strength Levels

$ 365.00 and $ 378.00

Important Support Levels

$ 355.00 and $ 350.00

2- Hour RSI

L & # 39; RSI indicates a divergence, which could entail a recovery.

2-hour MACD

The MACD is slowly reducing its downward slope.

Aayush spent over seven years as a marketing 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.

ETHNews is engaged in its editorial policy

Do you like what you read? Follow us on Twitter @ETHNews_ to receive the latest prices from Ether Price, Ether Price and Ethereum Analysis News.

Disclaimer

The content of ETHNews.com is provided for informational purposes only and is not intended as financial advice or other advice. You do not have to rely on any ETHNews.com content to make an investment decision. ETHNews.com is not responsible for any investment decisions made by you. You are responsible for your investment research and investment decisions.


Source link