RATE Group | Ethereum Price Forecast: Chance Of Ether Bounce Grows
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Ethereum Price Forecast: Chance Of Ether Bounce Grows

21 Jul Ethereum Price Forecast: Chance Of Ether Bounce Grows

Posted at 16:05h in Ethereum News by

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Ether’s price is recovering nicely against the US dollar and bitcoin. ETH/USD could accelerate gains if it moves past $470.00.

Key Highlights

Ether’s price extended declines and broke a key support at $450.00 against the US dollar.

ETH/USD is recovering with a break above a declining channel on the hourly chart at $455.00.

ETH/BTC traded close to the 0.0600BTC support and bounced back.

Technically, the hourly chart indicators are recovering higher in the bearish territory.

Ether Price Analysis

ETH/USD failed to hold a key support at $450.00-452.00 and declined toward the $440.00 level. The pair traded as low as $440.85 before Ether sellers lost control.

Similarly, there was a sharp decline in ETH/BTC toward the 0.0600BTC support and a low was formed near 0.0604BTC. Later, the pair recovered and moved above the 0.0620BTC resistance.

Ether Price Analysis ETH Chart

The hourly chart of ETH/USD indicates that the pair was in a significant downtrend from well above $500.00. The pair followed a declining channel and…

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