RATE Group | Ethereum Price Analysis: ETH/USD Bearish Below $468
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Ethereum Price Analysis: ETH/USD Bearish Below $468

31 Jul Ethereum Price Analysis: ETH/USD Bearish Below $468

Posted at 06:58h in Ethereum News by

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Key Highlights

  • ETH price struggled to move higher and declined below the $458 support against the US Dollar.
  • There are two bearish trend lines formed with resistance at $457 and $468 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is under bearish pressure and it could decline further below $445 in the near term.

Ethereum price is facing tough time against the US Dollar and bitcoin. ETH/USD is in a negative zone below the $464 and $468 resistance levels.

Ethereum Price Trend

There was an increase in selling pressure below $465 in ETH price against the US Dollar. The ETH/USD pair failed to hold gains and declined below the $460 support area. The decline was strong as the price traded towards the $445 level. It even settled below the $460 level and the 100 hourly simple moving average. A low was formed at $445.98 before the price recovered.

It moved above the 38.2% Fib retracement level of the last drop from the $471 high to $445 low. However, the upside move was capped by…

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