Ether price well above support levels of $438 and $435
There is a contraction triangle forming on the hourly chart with resistance near $455 an ounce
Ether could break the triangle-resistance to rise further towards $480
The Ethereum price is back in a positive zone against the US Dollar and Bitcoin. ETH must overcome the resistance of $455 an ounce in order to make further short-term gains.
Recently there was a solid rally above the $430 level. ETH broke through the $445 and $450 resistance levels. Before the short-term https://www.onlinebetrug.net/en/bitcoin-trader/ consolidation, the price traded at $463.91 an ounce. However, the decline was protected by the support zone at $440 an ounce. It was important that ether did not move below the $438 mark and the 100-hour SMA. There is currently an important contraction triangle forming on the hourly chart with resistance near $455. The pair must break through the triangle resistance and the $460 to gain steam.
Ethereum Price Analysis
Looking at the chart, the price is supported near the triangle support at $ 446 an ounce. A break below $446 may trigger further falls towards $438 and the 100-hour SMA. Ether must stay above the 100-hour SMA to avoid a bearish reaction to the $430 and $425 levels in the near future. The MACD is largely neutral in the bearish zone. The RSI is currently flat above the 50 level and, like the MACD, signals a balanced Bitcoin revolution. The highest support level is at $438, while resistance is at $455.
Ripple Price Highlights
Ripple recovered from $0.4248 low
There is a short term bearish channel on the hourly chart with resistance at $0.4650
XRP Must Overcome the $0.4650 and $0.4750 Resistance Levels to Further Recover in the Shorter Term
XRP must move above the $0.4750 level for further upward movement towards $0.5000 an ounce.
Technical Indicators Signals
Last week the Ripple price moved towards the support level of $0.4200. Ripple traded to a level of $0.4248 before buyers appeared. A new bullish wave was triggered and the price moved above the resistance levels of $0.4500 and $0.4600 respectively. XRP reached a high of $0.4817, but buyers cannot hold the price. However, the decline was protected by the support range of $0.4500. At the moment it appears that there is a short-term bearish channel with resistance at $0.4650 on the hourly chart.