RATE Group | Ethereum Price Forecast: Risk Of Bullish Break Grows For Ether
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Ethereum Price Forecast: Risk Of Bullish Break Grows For Ether

17 Aug Ethereum Price Forecast: Risk Of Bullish Break Grows For Ether

Posted at 01:53h in Ethereum News by

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Ether’s price is preparing for the next short-term break against the US dollar. ETH/USD must settle above $300.00 to gain bullish momentum.

Key Highlights

Ether’s price rally failed near the $300.00-306.00 resistance zone against the US dollar.

Yesterday’s bearish trendline is intact with current resistance near $300.00 on the 2-hour chart of ETH/USD.

ETH/BTC is slowly rising and could continue to move toward the 0.0475BTC resistance.

Technically, the 2-hour chart indicators are rising higher in the bullish territory.

Ether Price Analysis

Yesterday, we discussed a significant resistance near $300.00 and a bearish trendline on the 2-hour chart of ETH/USD. The pair tested the $300.00-306.00 resistance zone, but failed to break it.

ETH/BTC remained in a short-term correction from the 0.0415BTC support. The pair may continue to rise toward the 0.0465BTC and 0.0475BTC resistance levels.

Ethereum Price ETH

The 2-hour chart of ETH/USD indicates that the pair failed to break a crucial bearish trendline,…

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