RATE Group | Ethereum Price Forecast: Ether’s Recovery Won’t Be Easy
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Ethereum Price Forecast: Ether’s Recovery Won’t Be Easy

28 Jul Ethereum Price Forecast: Ether’s Recovery Won’t Be Easy

Posted at 04:41h in Ethereum News by

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Ether’s price is declining toward important supports against the US dollar. ETH/USD is likely to bounce back after testing the $452.00 support area.

Key Highlights

Ether’s price declined and settled below the key support at $470.00 against the US dollar.

A crucial resistance has formed near $470.00-475.00 on the 30-minute chart of ETH/USD.

ETH/BTC is slowly recovering and moving higher toward the 0.0600BTC resistance.

Technically, the 30-minute chart indicators are signaling a strong bearish bias.

Ether Price Analysis

During the past three sessions, there was no major upward move for ETH/USD. The pair struggled to recover above the $480.00 resistance level, resulting in a decline.

On the other hand, ETH/BTC started an upward correction and is slowly moving toward the 0.0600BTC resistance. Bitcoin’s price declined sharply below $8,000 versus the US dollar, helping Ether in correcting higher.

Ether Price Analysis ETH

The 30-minute chart of ETH/USD indicates that the pair started a major drop after forming…

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