RATE Group | Ethereum Price Forecast: Why Ether Must Hold $270
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Ethereum Price Forecast: Why Ether Must Hold $270

30 Aug Ethereum Price Forecast: Why Ether Must Hold $270

Posted at 15:23h in Ethereum News by

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Ether’s price is once again struggling against the US dollar and bitcoin. ETH/USD must stay above the $270.00 support to recover back above $290.00.

Key Highlights

Ether failed to hold gains above the $292.00 and $280.00 support levels against the US dollar.

ETH/USD broke a significant bullish trendline with support at $282.00 on the 2-hour chart.

ETH/BTC remains at a risk of a downside break below the 0.0400BTC support.

Technically, the 2-hour chart indicators are declining sharply in the bearish territory.

Ether Price Analysis

Yesterday, we discussed that a bearish break below $292.00 in ETH/USD may initiate an extended downside correction. During the past few hours, the pair faced an increased selling pressure, resulting in a break below the $282.00 and $280.00 support levels.

ETH/BTC struggled to move above the 0.0415BTC and 0.0420BTC resistance levels, igniting a fresh bearish wave. The pair dropped and is currently at a risk of sliding below the 0.0400BTC support.

Ethereum Price Analysis ETH

Starting…

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