RATE Group | Ethereum Price Forecast: Ether Consolidates, But Gains Seem Likely
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Ethereum Price Forecast: Ether Consolidates, But Gains Seem Likely

05 Oct Ethereum Price Forecast: Ether Consolidates, But Gains Seem Likely

Posted at 20:16h in Ethereum News by

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Ether’s price is preparing for the next move against the US dollar and bitcoin. ETH/USD is likely to make the next move above the $225.00 and $230.00 levels.

Key Highlights

Ether’s price remained confined in a tiny range above $220.00 against the US dollar.

ETH/USD is trading inside a crucial triangle with resistance at $223.00-225.00 on the 6-hour chart.

ETH/BTC is forming a consolidation pattern between 0.0330BTC and 0.0350BTC.

Technically, the 6-hour chart indicators are slowly recovering higher in the bearish territory.

Ether Price Analysis

During the past few sessions, there was no major move in ETH/USD, and the pair mostly traded in a tiny range above the $215.00 support level. On the upside, there are crucial resistances formed near $224.00, $225.00, and $230.00.

ETH/BTC is trading near the 0.0340BTC support, with a neutral bias. On the upside, the price has to break the 0.0350BTC resistance to move into a bullish zone. The key support for buyers is near the 0.0330BTC…

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