Price etiological prediction: ether fighting close to important resistances

15 September 2018 2:34 PM

Key Points

Ether's price is faced with major resistance near $ 225.00 and $ 230.00 against the US dollar.

An important contracting triangle is forming, with current resistance at $ 220.00 on the hourly chart of Eth / USD

ETH / BTC is correcting higher and could test resistances 0.0340BTC and 0 , 0350BTC.

Technically, the hourly graphic indicators are positioned well in the bullish territory.

Analysis of the price of the ether

The ETH / USD remained well above the support area of ​​$ 200.00 and has widely traded in an interval during the last hours. However, it seems that Ether's buyers are really struggling to gain bullish momentum above the $ 220.00 level.

On the other hand, ETH / BTC rose higher from the 0.0315BTC support and moved above the 0.0330BTC level. The pair could continue to move higher in the short term towards the 0.0340BTC and 0.0350BTC resistors.

The hourly chart of the Eth / USD indicates that the couple is preparing for the next break or over $ 220.00 or less than $ 200, 00. There is an important contractual triangle, with current resistance at $ 220.00. If Ether breaks the resistance of the triangle, it could rise to the resistance area of ​​$ 230.

On the other hand, a close under the support of the triangle at $ 205.00 could put sellers under control; they could try to break the support area of ​​$ 200.00. The next significant support is close to $ 190.00 and the Fibonacci retracement level 61.8 from the last upward shift from $ 167.73 to $ 223.96.

Going up to the 6 hour ETH / USD chart, the pair is positioned well above the $ 200.00 support (the previous resistance). However, there are many obstacles near the $ 225.00 and $ 230.00 levels. In addition, there is also a key bearish trend line, with a current resistance of $ 250.00.

Therefore, earnings above $ 220.00 in Ether's price are likely to encounter many obstacles. In the short term, there may be variations in the range above $ 200.00 before the price makes an attempt to cancel the resistance $ 230.00

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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