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December 14, 2018 16:11
The price of Ether remains in a significant downward trend against the US dollar and bitcoin. The daily chart of the ETH / USD suggests a greater obstacle for shoppers close to $ 100.00.
Key points
The price of Ether is struggling to break resistance from $ 88.00 and $ 90.00 against the US dollar.
A decisive declining channel formed with resistance at $ 98.00 on the daily chart of ETH / USD.
ETH / BTC failed to break the 0.0270BTC resistance and withdrew from the highs.
Technically, the indicators of the daily chart are currently consolidating in the oversold zone.
Price analysis of the ether
The last few days were mostly neutral since the consolidated losses of the Ethics / USD were higher than the support of $ 82.00. The couple made a couple of attempts to move into a positive zone, but faced obstacles close to $ 98.00 and $ 100.00.
ETH / BTC also followed a bearish pattern much higher than 0.0300BTC and is consolidating above the 0.0260BTC support. If Ether falls below $ 80.00 against the US dollar, it could break aid 0.0260BTC and 0.0250BTC compared to bitcoin.
The daily chart of ETH / USD suggests that the pair is in a significant downtrend from the low of $ 230.00. The pair recently settled below the $ 100.00 support and traded at $ 82.37. It is currently consolidating losses, plus there is a crucial declined channel formed with resistance at $ 98.00.
To start a solid upward move, the price must break the resistance of the channel and $ 100.00. The next major resistance is close to the $ 125.00 level (previous support). Conversely, if the price breaks the minimum of $ 82.37 and the support of $ 82.00, there may be a & # 39; downward extension towards $ 80.00, $ 76.00 or even $ 72.00.
Coming down to the 2-hour chart of Eth / USD, the pair appears to be in difficulty near the resistance of $ 88.00 (recent support). There is also a key downtrend line, with a resistance at $ 90.00 on the same chart.
On the downside, initial support is $ 85.00, below which the price of Ether will probably test the minimum of $ 82.37. The overall price action is super-bearish on the daily chart and on the 2-hour chart, but a break above $ 98.00 and $ 100.00 could change things in the near future.
Daily MACD
The MACD is slowly reducing its downward slope.
Daily RSI
The RSI is currently flat near level 30.
Important support levels
$ 85.00 and $ 82.00
Important resistance levels
$ 88.00 and $ 90.00
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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