Ethereum Price Forecast: Ether Zooms Above $870

February 14, 2018 4:44 PM

Ether accelerated higher against the US dollar but is facing an extended correction versus bitcoin. ETH/USD is showing a lot of bullish signs with supports at $870.00 and $840.00.

Key Highlights

Ether succeeded in gaining strength and moved above the $870.00 resistance against the US dollar.

There is a key bullish trendline forming with support at $840.00 on the 4-hour chart of ETH/USD.

ETH/BTC declined further and is currently approaching the 0.0950BTC support.

Technically, the hourly chart indicators are correcting lower from the overbought levels.

ETH/USD Could Accelerate Further

There was a positive price structure formed in ETH/USD around the $825.00 swing low. The pair started a nice upward move and succeeded in breaking a crucial resistance at $870.00.

Ether Price Analysis Chart

On the other hand, ETH/BTC continues to correct lower and is currently approaching the 0.0950BTC support; the previous support at 0.1000BTC is now a resistance.

Looking at the hourly chart of ETH/USD,…


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