RATE Group | Ethereum Price Forecast: ETH/USD’s Uptrend Remains Intact
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Ethereum Price Forecast: ETH/USD’s Uptrend Remains Intact

22 Jul Ethereum Price Forecast: ETH/USD’s Uptrend Remains Intact

Posted at 16:30h in Ethereum News by

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Ether’s price remains in an uptrend against the US dollar. ETH/USD is likely to move higher as long as it is above $445.00.

Key Highlights

Ether’s price faced strong resistance near $515.00 and declined against the US dollar.

ETH/USD is following a crucial ascending channel with support at $445.00 on the 12-hour chart.

ETH/BTC started a recovery and moved above the 0.0620BTC resistance.

Technically, the 12-hour chart indicators are showing a few positive signs in the bearish territory.

Ether Price Weekly Analysis

After a significant upward move, ETH/USD faced strong resistance near $515.00. A new monthly high was formed at $515.09 and the price declined sharply below the $480.00 pivot level.

More importantly, there was a lot of bearish pressure on ETH/BTC as the pair declined below the 0.0650BTC support area. It traded close to the 0.0600BTC support and is currently recovering above the 0.0620BTC resistance.

Ethereum Price Weekly Analysis

Let’s start with the 12-hour chart of ETH/USD to understand why Ether…

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