Ethereum Price Technical Analysis ETH/USD Could Break $500

Ethereum Price Technical Analysis  ETH/USD Could Break $500

Key Highlights


ETH price is under pressure as it moved below the $560 support level against the US Dollar.
There was a break below a major bullish trend line with support at $560 on the hourly chart of ETH/USD (data feed via Kraken).
The pair may continue to decline and it could even attempt a break below the $500 level in the near term.

Ethereum price is slowly declining once again against the US Dollar and Bitcoin. ETH/USD remains at a risk of more declines below the $500 level.

Ethereum Price Resistance

There were no further gains above the $585-590 levels in ETH price against the US Dollar. The price started a downside move and traded below the $575 and $560 support levels. There was also a break below the 23.6% Fib retracement level of the last wave from the $455 low to $589 high. During the decline, the price also broke the $540 level and it is currently well below the 100 hourly simple moving average.

More importantly, there was a break below a major bullish trend line with support at $560 on the hourly chart of ETH/USD. At the moment, the pair is trading a few points below the 50% Fib retracement level of the last wave from the $455 low to $589 high. It may continue to decline in the short term and there is a risk of a break below of the $500 support. Below $500, the price may trade lower towards the 76.4% Fib retracement level of the last wave from the $455 low to $589 high at $487.


On the upside, there is a connecting bearish trend line with current resistance at $554.00. Moreover, the 100 hourly SMA is positioned at $552 to act as a major hurdle for buyers.

Hourly MACD The MACD is now in the bearish zone.

Hourly RSI The RSI is currently well below the 60 level.

Major Support Level $500

Major Resistance Level $550

Charts courtesy Trading View

22.03.2018 / 22:10 27
Ethereum Classic Price Technical Analysis  ETC/USD Bullish above $19 Ethereum Classic Price Technical
Key Highlights Ethereum classic price recovered further and moved above the $19.00 level against the US dollar. There is a major bullish trend line
Ethereum Price Technical Analysis  ETH/USD Could Break Higher Ethereum Price Technical Analysis
Key Highlights ETH price gained traction recently and moved above the $560 level against the US Dollar. There is a new connecting bullish trend line
Ethereum Classic Price Technical Analysis  ETC/USD Settles Above $17.50 Ethereum Classic Price Technical
Key Highlights Ethereum classic price corrected higher nicely and moved above the $17.50 level against the US dollar. There was a break above a major
Ethereum Price Technical Analysis  ETH/USD Decline Below $600 Ethereum Price Technical Analysis
Key Highlights ETH price declined sharply and moved below the $650 and $620 support levels against the US Dollar. There was a break below a major
Ethereum Classic Price Technical Analysis  ETC/USD to Break $20? Ethereum Classic Price Technical
Key Highlights Ethereum classic price was under a lot of pressure and it broke the $25.00 support against the US dollar. There is a major bearish
Ethereum Price Technical Analysis  ETH/USD Could Decline Further Ethereum Price Technical Analysis
Key Highlights ETH price formed a short-term top near $857 and moved down against the US Dollar. There is a key connecting bearish trend line forming
Comments (0)
Add a comment
Comment on