RATE Group | Ethereum Price Forecast: Ether Could Test $150
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Ethereum Price Forecast: Ether Could Test $150

12 Sep Ethereum Price Forecast: Ether Could Test $150

Posted at 15:44h in Ethereum News by

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September 12, 2018 3:14 PM

Ether’s price extended its decline to new lows against the US dollar and bitcoin. ETH/USD remains in a bearish zone and it could extend its slide to $150.00.

Key Highlights

Ether’s price tumbled to new a new yearly low at $167.73 against the US dollar.

ETH/USD is following a declining channel with resistance at $175.00 on the 30-minute chart.

ETH/BTC broke the 0.0300BTC support and tested the 0.0275BTC zone.

Technically, the 2-hour chart indicators are reaching the extreme oversold levels in the bearish territory.

Ether Price Analysis

Yesterday, we discussed that a break below $188.00 in ETH/USD could spark more declines toward $185.00 and $180.00. The pair did move down, broke the $188.00 and $180.00 supports, and traded to a new yearly low at $167.73.

ETH/BTC also faced heavy selling pressure, resulting in a downside break below the important 0.0310BTC support. The pair traded toward the 0.0270BTC level and it seems like it may continue to move south…

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