RATE Group | Ethereum (ETH) Long-Term Price Forecast
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Ethereum (ETH) Long-Term Price Forecast

25 Aug Ethereum (ETH) Long-Term Price Forecast

Posted at 10:09h in Ethereum News by

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ETH/USD Long-term Trend: Ranging

Supply Zone: $330, $340, $360
Demand Zone: $260. $240, $220

The bearish trend made the ETH price to reach the oversold region of the market. The price of Ethereum reached the low of $ 260 and is now in a sideways trend. The digital currency is range bound between the levels of $320 and $260. The price of the digital currency is currently at $280 as at the time of writing . The price is likely to fluctuate within the range bound zone in a couple of days to come. Therefore you can trade the key levels.

If the support level at $260 is holding traders should initiate long trades and exit near the resistance zone. Nevertheless, the MACD line and the signal line are at par with the zero line which indicates a neutral signal. In addition, the price of Ethereum is below the 12-day EMA and the 26-day EMA which indicate that the bearish pressure is ongoing. The Relative Strength Index period 14 is level 36 which indicates that the market is oversold…

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