RATE Group | Ethereum Price Forecast: Ether Approaching Crucial Break
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Ethereum Price Forecast: Ether Approaching Crucial Break

26 Aug Ethereum Price Forecast: Ether Approaching Crucial Break

Posted at 14:38h in Ethereum News by

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Ether’s price is approaching the next key break against the US dollar. ETH/USD will either break the $280.00-290.00 resistance or decline below the $260.00 support.

Key Highlights

Ether mostly consolidated in a range above the $260.00 support this past week against the US dollar.

Two important bearish trendlines are formed with resistance near $280.00-290.00 on the 12-hour chart of ETH/USD.

ETH/BTC almost tested the 0.0400BTC support and is currently consolidating losses.

Technically, the 12-hour chart indicators are slowly recovering in the bearish territory.

Ether Price Weekly Analysis

This past week, there was no major action as ETH/USD mostly traded in a $30.00 range. The pair stayed above the $260.00 support, but it struggled to clear a strong resistance zone near the $280.00-$290.00 zone.

On the contrary, ETH/BTC remained in a bearish zone below the 0.0450BTC resistance. The pair even failed to hold the 0.0415BTC support and traded close to the 0.0400BTC support. It is…

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