Ether Price Analysis: The Downtrend for Ether Continues 

UK-based Crypto Trading Platform is Launches Ethereum Futures Contracts

Ethereum continues to face bearish pressure as it fails to hold against the USD and Bitcoin.

The Ether to USD trading pair may trade below #600.00 soon if things don’t improve. This week, the $610.00 resistance didn’t hold the price against the USD. There is currently a significant resistance near $600.00.

Price Analysis for Ether

The Ether to USD trading pair failed to break through the $610.00 and $615.00 resistance moving even lower toward $570.00. As if that wasn’t bad enough, the Ether to Bitcoin pair was unable to stay above 0.0800BTC and fell into a downward wave. The trading charts indicate that the ETH/BTC pair is forming a correction pattern of three waves and is currently in the third wave.

SEE ALSO:   Cryptocurrency Market Predictions: Charles Hoskinson Says Cryptocurrency Will Command Multi-Trillion Dollar Industry

Considering the chart, there is a reduction in trading volume above the significant resistance around $600.00. The pair struggled to go above the 38.2 Fib retracement level of the previous fall from $722.63 to $543.48. The only thing that would reduce the bearish pressure is an uninterrupted close above the resistance levels of $600.00 and $610.00.

There were two recovery waves on the hourly chart for the Ether to USD trading pair. One wave was above $570.00, but it failed to hold near the $640.00 and $615.00 levels. The second wave on the downside formed decent support around $570.00.

If Ether fails to move above the $600.00 and $610.00 levels, it could place a lot of pressure on the buyers breaking the $570.00 pivot and retesting the support area of $550.00.

SEE ALSO:   Ethereum (ETH) Price Analysis: Ether (ETH) is Bearish in Long-Term Price Forecast (Ethereum price predictions)

The price action is currently bearish and will remain bearish if the price doesn’t go above $610.00. Gains beyond this level is required to pave the way for future gains.

Traders should take note of the $600.00 and $610.00 resistance levels and the $570.00 and $550.00 important support levels.

Traders need to be on high alert during the next few trading sessions. Ethereum isn’t the only cryptocurrency struggling in the market. Other major coins like Bitcoin and Bitcoin Cash are also struggling.


Legal Disclaimer: The content of this website ( is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on 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 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

SEE ALSO:   Ethereum Classic Price Analysis: The Value of Ethereum Classic (ETC) Just Broke Its Resistance at $17

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!