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December 13, 2018 16:12
The price of Ether could find support if it decreases against the US dollar and bitcoin. The ETH / USD must remain above $ 88.00 to rise higher in the short term.
Key points
The price of Ether holds the key support at $ 88.00 against the US dollar.
There are major barriers formed around $ 92.80 and $ 98.00 on the 2-hour ETH / USD chart.
ETH / BTC is slowly moving higher towards the 0.0270BTC resistance level.
Technically, the 2-hour chart indicators are struggling to move into bearish territory.
Price analysis of the ether
During the last three sessions, there have been above all moves in the range above the support of $ 88.00 in ETH / USD. The pair retreated from the $ 92.82 level, but remained above the key support of $ 88.00.
ETH / BTC form a support base near 0.0260BTC and is currently restoring towards resistance levels 0.0265BTC and 0.0270BTC. On the negative side, the supports are at 0.0260BTC and 0.0258BTC.
Starting from the 2-hour chart of Eth / USD, there are some positive signs above the $ 88.00 support and a crucial uptrend line. However, there are many upside obstacles, starting at $ 92.50 and a bearish trendline.
If Ether breaks the downtrend line, it could rise to the $ 95.00 level and the Fibonacci retracement level to 50% of the decline from $ 102.32 up to $ 87.36 below. However, the key resistance approaches the levels of $ 98.00 and $ 100.00, above which the price will most likely come in a fairly good upward trend.
Turning to the 30-minute chart of Eth / USD, the pair recently broke a bearish trendline at $ 90.00, opening the door to an upward push. At the top, there is a strong barrier formed near the levels of $ 92.20 and $ 92.80.
On the downside, initial support is $ 90.00 and a bullish trendline on the same chart. The main support is $ 88.00, below which there is a risk of a sharp decline towards $ 82.00 or even $ 80.00.
Overall, the 2-hour chart shows that Ether continues to maintain a slight rise of 20 SMA and the upward trendline, which is positive in the short term.
Important resistance levels
$ 92.80 and $ 95.00
Important support levels
$ 90.00 and $ 88.00
2 hours RSI
The RSI is stable near level 45.
MACD at 2 hours
The MACD is currently flat in the bearish zone.
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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