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.
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.
ETHNews is engaged in its editorial policy
Do you like what you read? Follow us on Twitter @ETHNews_ to get the latest news on Ether, Ethereum and Ethereum Analysis.
The content of ETHNews.com is provided for informational purposes only and is not intended as a financial advice or any 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.