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Ether's price is trading positive moves above $ 350.00 against the US dollar. However, ETH / USD deals with many resistances close to $ 370.00 and $ 380.00.
Key Points
Ether's price moves sideways above the $ 350.00 support against the US dollar.
A short-term breakout model is forming with resistance close to $ 370.00 on the 2-hour chart of Eth / USD.
ETH / BTC failed to gain momentum and rejected key support at 0.0550BTC.
Technically, the 2-hour chart indicators are struggling to return to the rising territory.
Analysis of the prices of the ether
Yesterday, there was a push above the resistance of $ 365.00 in ETH / USD. The pair went up to the $ 370.00 level where they faced the sellers, resulting in a new move down.
Similarly, ETH / BTC struggled to overcome the 0.0570BTC level and abruptly decreased. Bitcoin then rebounded against the US dollar, which increased downward pressure on ETH / BTC.
Starting with the 30-minute ETH / USD chart, the pair fell recently after trading at $ 370.25 and broke support for $ 360.00. He also zeroed the 50 Fibonacci retracement level from $ 350.98 to $ 370.25.
However, Ether buyers have successfully avoided the decline below $ 355.00. The price rebounded and passed a bearish trend line with resistance at $ 357.00 to enter a positive zone.
Initial resistance expects at $ 365.00, beyond which the price could test the recent high at $ 370.25. Instead, it drops to $ 360.00 and the broken trend line at $ 357.00 remains supported.
The 2-hour chart of Eth / USD indicates that the pair is traded sideways above the $ 350.00 support. More importantly, there is a short-term breakdown pattern that is formed with resistance near $ 369.00-370.00 and support above $ 350.00.
Therefore, Ether's next move depends on buyers being able to push ETH / USD over the $ 370.00 resistance. The next major resistance is $ 380.00, followed by the $ 400.00 pin level.
In contrast, persistent weakness under the $ 350.00 support could suggest a more bearish outlook for Ether in the short to medium term.
Important Strength Levels [19659019] $ 365.00 and $ 370.00
Important Support Levels
$ 355.00 and $ 350.00
2 Hour RSI
L & # 39; RSI is around 45 with a bearish angle.
MACD at 2 hours
The MACD is mostly 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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