RATE Group | Ethereum Price Forecast: Ether Climbing Toward $500
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Ethereum Price Forecast: Ether Climbing Toward $500

24 Jul Ethereum Price Forecast: Ether Climbing Toward $500

Posted at 16:19h in Ethereum News by

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Ether’s price is slowly recovering against the US dollar whereas it declined further versus bitcoin. ETH/USD is now placed nicely above the $470.00 and $460.00 supports.

Key Highlights

Ether’s price gained bullish momentum and broke the $470.00 resistance against the US dollar.

ETH/USD settled above a major bearish trendline with resistance at $460.00 on the 2-hour chart.

ETH/BTC remained in a downtrend and broke the 0.0580BTC support.

Technically, the 2-hour chart indicators moved into the bullish territory with positive signs.

Ether Price Analysis

Yesterday, we discussed an important range resistance near $470.00 and support at $455.00. ETH/USD dipped below the $455.00 support, but it bounced back sharply and broke the key resistances at $460.00 and $470.00.

Conversely, ETH/BTC remained in a downtrend and extended its declines below the 0.0580BTC support. The technical indicators are pointing to an oversold condition, increasing chances of a recovery above 0.0600BTC in the…

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