Ether Price Rebound Coming?

Yaron Mazor

Support is quietly building above the 200 mark past month

Ether is trading in a price range of about 80 points, between 170 and 250, since September 6th. It is the same performance that was seen between mid-August and September 5th, when Ether was traded between 250 and 320.

Per this article’s release time, the cryptocurrency is quietly building support and it seems the recent bad news and announcements are priced in.

What now?

If there is a move towards the 170 level it would likely be followed by a major and unforeseen bad announcement. However, no critical news is expected, at least in the near future. Ethereum founders have proved transparent, especially in times of tough announcements.

The upside scenario requires a first move to the 260 mark that will be followed by a cross above the monthly and the quarterly price averages. It will break up the current narrow price trading range as well.

This scenario will present a technical pattern that will validate the current price level as support. It should ignite trading momentum and bring back enthusiasm to the market as well. That said, an upside scenario will test the cryptocurrency’s current key resistance level around the 400-round mark

Ethereum 1D Chart
  • Support levels:

Week: 214.0          Strong: 200.0                   Key: 167.0

  • Resistance levels:

Week: 255.0                     Strong: 320.0                   Key: 400.0

  • Average prices:

Month: 225.0                    Quarter: 241.0                  Year: 523.0

What is price consolidation?

Price consolidation occurs after a market has had a strong move in one direction and then it takes a pause. That pause reflects a time period where the market fluctuates within a narrow price range, between support and resistance levels.

*Any views and opinions presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading.

This article was written by Yaron Mazor, a senior analyst at DX.Exchange 

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.