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Ether's price remained tied to the US dollar and bitcoin. The ETH / USD seems to face a tough challenge near the resistance of $ 300.00-306.00.
Key Points
Ether's price remained well above $ 290.00, but it struggled to break $ 306.00 from the US dollar.
A short The uptrend line is formed with support for $ 285.00 on the 2-hour chart of Eth / USD.
ETH / BTC is exchanged in a range higher than 0.0450BTC support and observes a resistance test 0.0475BTC.
Technically, the 2-hour chart indicators are increasing in bullish territory.
Ether Price Analysis
Yesterday we discussed that an appropriate closing and earnings over $ 300.00 in ETH / USD could offer more constructive prospects. The pair attempted a bullish break above $ 300.00-306.00, but buyers failed to gain momentum.
Similarly, ETH / BTC rose slowly and steadily higher and positioned above 0.0450BTC. The pair is currently trading in a range and is likely to trade higher towards the resistance of 0.0475BTC.
Starting with the 30-minute ETH / USD chart, the pair made some attempts to settle above $ 300.00, but failed. There were new highs every time, like $ 302.00, $ 303.30, and $ 305.04, but the Ether buyers could not maintain their strength.
The price declined and currently traded some points below the $ 300.00 level. He is testing a confident trendline and a support zone around $ 295.00. If there were a break and closed below the trend line, there could be more losses towards the $ 290.00 and $ 285.00 levels.
On the top, there is a resistance resistance line formed with a current obstacle near $ 306.50. More importantly, the 2-hour chart of ETH / USD indicates that there is strong resistance near the $ 306.00 level for Ether.
The last two 2-hour candles suggest weakness, which can take the price under the support of $ 295.00. However, the price is likely to find a strong buying interest near a short-term uptrend line, with current support at $ 285.00.
Overall, the price of Ether is struggling to exceed $ 300.00-306.00. Therefore, it will exceed $ 306.00 or decrease to test the $ 285.00 support in the next sessions.
Important Strength Levels
$ 300.00 and $ 306.00
Important Support Levels
$ 295.00 and $ 285.00
2 hours RSI
L & # 39 RSI is moving further down to level 55.
MACD at 2 hours
The MACD is showing signs of weakness in the bullish zone.
Aayush spent over seven years as a contributor to financial markets 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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