RATE Group | Ethereum Price Forecast: Ether’s Downward Drift And Recovery
37299
wp-singular,post-template-default,single,single-post,postid-37299,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Price Forecast: Ether’s Downward Drift And Recovery

01 Aug Ethereum Price Forecast: Ether’s Downward Drift And Recovery

Posted at 17:32h in Ethereum News by

[ad_1]

Ether’s price extended losses against the US dollar. ETH/USD is currently stable above $412.00 with resistances near $425.00 and $430.00.

Key Highlights

Ether’s price fell further and broke the $425.00 support against the US dollar.

ETH/USD is recovering, but it could face hurdles near $425.00 and $430.00.

ETH/BTC is holding the 0.0550BTC support with little short-term indication of an upward move.

Technically, the 2-hour chart indicators are recovering from the oversold levels.

Ether Price Analysis

Yesterday, we discussed that ETH/USD buyers need to protect the $425.00 support. However, the pair failed to recover above the $445.00 resistance and declined toward $400.00.

On the other hand, ETH/BTC was stable above the 0.0550BTC support. The pair may possibly consolidate in the short term before attempting an upward recovery toward the 0.0580BTC and 0.0600BTC resistances.

Ethereum price forecast ETH

Looking at the 2-hour chart of ETH/USD, a bearish pattern formed once the pair broke the $460.00 support,…

[ad_2]

Source link