Ethereum Price Forecast : 27 Apr 2018

ethereum price chart

Current reports from the cryptocurrency market reveal that Ether’s price is trading above crucial support levels against the USD and bitcoin. Ethereum/USD is showing some signs of recovery after moving above the $620.00 mark. The crypto token is holding essential support at $600.00 against the USD after breaking a linking bearish trend line with firm resistance at $626.00 via the 30-minute chart. Bitcoin on the other hand also recovered after moving from the 0.0680 support region above to 0.0700. It is safe to say that the 12-hour indicators have stabilized in the bullish zone. Ethereum price forecast analysis provided below is provided as a technical guide and not an investment advice.

Can Ethereum/USD Bounce Back?

Remember that the importance or value of a daily close beyond the $600.00 support must not be overlooked. Ethereum/USD managed to hold that support. It is currently showing some signs of recovery.

SEE ALSO:   Ethereum Price Analysis: Ether to USD Trading Pair Continues to Gain Support

In similar fashion, the downsides in Ethereum and Bitcoin were held back by the 0.0680 support. The pair began a recent upward turn and moved back above 0.0700, which is also a positive sign. In order to  understand the state of the present price structure and how significant the $600.00 support is we will give a brief analysis of the Ethereum/USD 12-hour chart and highlight the findings below.

The chart shows that a key bullish trend line with the support of $610.00 is managing to hold declines effectively. Hence, as long as Ethereum continues to trade above-said trend line, it can resume and maintain its upward move near the $650.00 and $600.00 mark. The drawback here is that a break well below the trend line at $600.00 will likely take the price near the next support which stands at $520.00.

Moving to analyze the Ethereum/USD 30-minute chart, we find that the pair has formed sturdy support at $600.00. The pair has managed to recover several points breaking a bearish trend line and with a resistance of $626.00.

loading...

Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on smartereum.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither smartereum.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from smartereum.com.

SEE ALSO:   Ripple News Today: Ripple is planning to upgrade the technology of the cryptocurrency-Fri Jun 22

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!


Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!