The price of Ether could gain more against the USD and Bitcoin as trading continues.
Ether will most likely go beyond $815.00 within the next few days. ETH is currently holding strong against the USD at $800.00 and that hold is only going to get stronger. The support levels are forming around $770.00-780.00
ETH/BTC and ETH/USD Price Analysis
Before testing the resistance of 0.0850BTC, the ETH/BTC may go through a few corrections. The hourly charts show that Ethereum is overbought and there is no sign of a correction.
ETH/USD May Get to $840 Soon
Ether was able to break through by reaching a two-month high of $827.21. Currently, the market wave shows a bullish uptrend with the ETH/USD trend moving upward with a support level of $770.00.
Also, Ether to Bitcoin trading gained more traction these past few weeks settling above 0.0800BTC. The price action at the time of writing suggests that the pair may go low by a few points before reaching a new high.
Hourly Chart For Ether Price
If you consider the Ether hourly price chart, you’ll find that ETH/USD is attempting to close above the psychological level of $800.00 with a short resistance near $802.00. A few bullish candles and an hourly close above $802.00 will set the pace for additional gains.
Resting above the recent high of $814.90, Ether’s price is going to cross the resistance of $820.00 and reach a barrier of $840.00. If there are any gains above $840.00, the price of Ether will get to a pivot level of $880.00.
There are two significant bullish trendlines on the downside with support levels near $770.00-780.00. So, any downward correction rally below $800.00 may find a strong buying interest above $770.00.
If you’re going to trade Ether now, take note that the current significant resistance levels are $820.00-840.00 while the significant support levels are $802.00- 770.00. This should help you make the right call during trading.