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

01 Sep Ethereum (ETH) Long Term Price Forecast

Posted at 09:05h in Ethereum News by

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Ethereum's New 2 ETH Block Reward Cap

ETH/USD Long-term Trend: Bearish

Resistance Levels: $350, $370, $390
Support Levels: $280, $260, $240

On August 1, the price of Ethereum was in a bearish trend with an opening balance of $ 431.86. The cryptocurrency depreciated and reached its lowest level and closed at a price of $257.58. This means that the price of Ethereum has depreciated by 40.35 %. However, since August 14, the price of Ethereum has been fluctuating between the levels of $320 and $260. Price has not broken the upper and lower range of the price. Traders who initiate trades at the upper and lower range of the price will make partial profits. Price is approaching the upper level of the price range.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of ETH is below the 12-day EMA and the 26-day EMA which indicates that price is in a bearish trend. The Relative Strength Index period 14 is level 3 which indicates that the market is oversold…

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