RATE Group | Ethereum Price Analysis: ETH/USD Upsides Capped Near $198
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Ethereum Price Analysis: ETH/USD Upsides Capped Near $198

13 Oct Ethereum Price Analysis: ETH/USD Upsides Capped Near $198

Posted at 01:12h in Ethereum News by

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Key Highlights

  • ETH price declined further and traded towards the $180 level against the US Dollar.
  • There was a break below a key contracting triangle with support at $194 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair traded as low as $184.15 and it is currently correcting higher towards resistances.

Ethereum price extended losses against the US Dollar and bitcoin. ETH/USD may correct a few points, but upsides are likely to be capped near $196-198.

Ethereum Price Analysis

Yesterday, there was a sharp downside move below the $220 support in ETH price against the US Dollar. The ETH/USD pair even traded below the $200 support and later started an upside correction. However, the upside move was contained and the price was not able to move above the $205-210 zone. The price started a fresh decline and moved below yesterday’s low and the $190 level.

During the slide, there was a break below a key contracting triangle with support at $194 on the hourly chart of ETH/USD. A new…

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